European aircraft manufacturer Airbus' chief executive Gustav Humbert reaffirmed Friday that Airbus was capable to finance on its own funds the development program of its A350.

"We are able to finance the A350 from our own funds," he said.

An estimated cost of 4.35 billion euros (about 5.35 billion US dollars) was expected to be earmarked for the program.

The European Aeronautic Defense and Space Company (EADS), which owns 80 percent of Airbus, and British BAE Systems, which holds the rest 20 percent, announced Thursday that Airbus shareholders had approved the A350 launching program.

EADS also said Airbus would temporarily put aside offers of government loans from Britain, France, Spain and Germany, as trade dispute was arising between the European Union and the United States.

According to EADS, Airbus had already received 140 orders for the A350 from nine different airlines. The company hoped to have 200 commitments by the end of this year.

A350, a mid-sized carrier, is the main rival of Boeing's planned 787 Dreamliner. It is scheduled to enter service in 2010.

Source: Xinhua