QANTAS sees no need to slow its growth at this stage, but has the flexibility to do so if needed, according to executives.
The International Air Transport Association warned this week that global passenger growth was slowing and the freight market shrinking as the industry "shifted gears downward".
But Qantas chief executive Alan Joyce said he saw no need to push the button on slowing the airline's growth.
"I don't think there are enough signs for us today to say that the market has gone into recession or decline," Mr Joyce said.
Airbus chief operating officer customers John Leahy said growth was flattening.
"The recovery out of the last recession overshot in 2010," Mr Leahy said.
"We see it pretty flat (at) the end of 2011, maybe the beginning of 2012, but no double-dip recession."
Mr Joyce was also confident that the airline's fleet plans had enough flexibility to cope with the precarious economic times.
Qantas has just ordered 110 Airbus A320 aircraft, including 78 of the re-engined neo versions that offer an 8 per cent improvement in operating costs.
He said the airline had always been conscious of managing risks and during the global financial crisis had cancelled or delayed the delivery of $7bn of list price aircraft as well as scaled back capacity across the board.
Mr Joyce said a mix of operating leases and owned aircraft meant the group could opt for either adding planes or replacing older aircraft.
He said Qantas was also now a diverse group, with more than 300 aircraft, and had the flexibility to operate in a range of markets from regional and domestic flying, to fly-in fly-out and international markets in Asia. "There are plenty of ways for us to be able to cope with a range of different scenarios that could occur," Mr Joyce said.
Eleven of the new A320s will be used to start up a new premium carrier likely to be based in either Singapore or Kuala Lumpur while others will head to Jetstar operations in Australia, New Zealand, Singapore and Asia.
Jetstar chief executive Bruce Buchanan said the extended-range neo would allow new routes such as Melbourne and Sydney to Bali as well as Singapore to Shanghai and Beijing.
It also extended the range of the present operation to make routes such as Singapore or Kuala Lumpur to Australia's east coast a reality in a premium configuration.
Mr Buchanan said the premium airline would allow Qantas to service Asian destinations it could not service today with one-stop flights similar to those offered by its opposition.
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