European airliner manufacturer Airbus, part of the larger Airbus Group, remains confident of the continuing growth of the global air transport industry. Some market analysts have expressed fears that a bubble is developing in the sector. “Is there a bubble? I don’t think so at all,” affirmed Airbus COO: customers John Leahy to the global aviation media in Toulouse, France, recently. He cited the continuing strong economic growth in emerging market economies.

“Fifteen years ago, this industry was half the size it is today. In 15 years, it will be twice the size it is today,” he stated. “Gross domestic product and aviation are becoming so intertwined.” In 2012, the world had 42 megacities, he pointed out. No less than 93% of long-haul air traffic was on routes to, from or via these 42 cities. “Traffic is concentrated on a few main centres,” he observed. By 2032, there will be 89 megacities, and 99% of long-haul air traffic will be on routes to, from or via these centres.

“Fifteen years from now, we will have double the number of revenue passenger kilometres – [a measure of the amount of passengers carried by an airline]. “We won’t have double the number of flights,” he highlighted. “This is why the size of airliners is increasing.”

Airbus has the advantage of producing the biggest airliner currently in service, or planned – the A380. “An A380 takes off or lands [somewhere in the world] every five minutes,” he reported. “The average daily utilisation [for each A380] is more than 13 hours.” So far, 324 of the big jets have been ordered, of which 132 have been delivered, leaving a current backlog of 192.

Emirates Airlines has reported that the A380 is the most popular aircraft in its fleet. British Airways has reported that replacing three Boeing 747s on its London–Heathrow/Los Angeles International route has cut costs on the route by 19%. Leahy stated that the average passenger load factors on A380s operated by eight airlines were between 80% and 90%. “Passengers seek it out,” he affirmed. “It is the most comfortable airliner flying today.”

However, while committed to the A380, Emirates recently cancelled its order for 70 Airbus A350XWBs. This will have no financial impact on the European airliner manufacturer, assured Leahy. “It’s not the world’s greatest news,” he admitted. “It’s not good news, commercially, but it has no impact financially. But it is what it is.” This takes the total number of A350XWB order cancellations to about 150. But, even after the Emirates’ cancellation, the A350XWB still has an order backlog of 742 from 38 customers.

“There’s certainly going to be no hole in production,” he reported. Emirates’ first A350 delivery was only scheduled for five years from now. “It’s never good news when someone cancels an order, but I don’t think it will have an impact at all.”

Within hours of the announcement of the cancellation, other airlines had made preliminary enquiries with Airbus about taking over the Emirates’ aircraft production slots. Leahy also pointed out that the competitor Boeing’s new-generation 787 had suffered from a higher rate of contract cancellations without that programme being adversely affected.

“There is a very big market [for the A350XWB] going forward,” he noted. The new-generation aircraft, largely made from composite materials, is scheduled to enter service before the end of this year.

• Keith Campbell attended the 2014 Airbus Innovation Days in Toulouse, France, as a guest of the company.