THE Boeing 747 - for many years the ultimate long-haul aircraft - is to face a formidable new competitor by early next century.
European manufacturer Airbus Industrie is pressing ahead with plans for a 'super-jumbo' aircraft.
Scheduled to be ready for delivery in 2003, the new plane will rival the 747 not only in distance capacity, but also outstrip it significantly in passenger capacity.
It sees Hong Kong and other Asian centres as the key to demand for the new aircraft as air travel expands rapidly in the region.
Airbus appropriately used an Asian forum to reaffirm its commitment to the project earlier this year - effectively locking it into a programme which could cost up to US$12 billion (HK$92.7 billion) for tooling and development alone.
Cathay Pacific Airways is understood to be involved with Airbus on the project and is likely to be a prominent customer, given the number of high-volume, large-carrier routes it operates.
