A380 to cost $281 million

European planemaker Airbus has put a catalogue price of $281 million (euro 234.6 million) on its future super-jumbo A380 model.

The plane, expected to carry about 555 passengers, is being developed by Airbus, which is 80 per cent owned by the European Aeronautic Defense and Space company and 20 per cent by BAE Systems of Britain.

According to a company release, the assembly of the world's largest aircraft has begun at a £240m factory in Toulouse, France.

The 555-seater super airliner, which is set to take its first flight in the spring of 2006,  is expected to double Airbus' profits. 

Airbus has already secured 129 orders for the double-decker aircraft from 11 airlines, including Qantas, Lufthansa, Air France and Virgin Atlantic.

According to chief executive Noel Forgeard, at least one US, one Chinese and one Japanese carrier are expected to place orders.

The A380 has wider seats, more legroom and 50 per cent more floor space than its nearest competitor, the Boeing 747 jumbo jet.