European airliner manufacturer Airbus, part of the larger Airbus Group, remains confident in 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 chief operating officer: customers John Leahy to the global aviation media in Toulouse, France, on Wednesday. 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. "GDP [gross domestic product] and aviation are becoming so intertwined."

In 2012, the world had 42 mega cities, 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 centers," Leahy observed. By 2032, there will be 89 mega cities, 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 RPKs [revenue passenger kilometers - 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," Leahy 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 their 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."

Keith Campbell is attending the 2014 Airbus Innovation Days in Toulouse as a guest of the company.