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7/11, 9:53 AM (Source: TeleTrader)
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Airbus improves delivery outlook amid soaring oil prices

European planemaker Airbus SE improved its forecast for jet deliveries over the next two decades amid soaring prices of crude oil that have prompted carriers to turn to more fuel-efficient aircraft.

In an outlook published on Monday, Airbus said it expects a yearly growth of 2.6%. However, it noted the annual number of passengers would climb by 3.6% a year, slightly less compared to the previous forecast of 3.9% vastly due to increasing travel costs.

With the latest update, Airbus intends to deliver 39,490 planes in the next 20 years, around 500 more than initially reported. The statement comes amid the continuous recovery of air traffic from the coronavirus pandemic, which is expected to reach pre-crisis levels within the next three years.

Baha Breaking News (BBN) / ND