Airbus says A350 project to cost 11 billion euro

PARIS (Reuters) - European planemaker Airbus estimates development of its new A350 aircraft will cost about 11 billion euros ($15.2 billion), Chief Executive Tom Enders said on Tuesday at the Paris Air Show.

Enders said the figure did not represent an increase of its spending plans for the project, which will create a rival to Boeing's (BA.N) 787 Dreamliner, from a previously indicated 10 billion euros.

Airbus is owned by European aerospace group EADS (EAD.PA).