When German, French and UK partners came together to develop the first Airbus, it marked the beginning of a unique European industrial success story. Without the A300 programme launched on May 29 1969, soon joined by the Spanish, Europe's aircraft industry would most likely have been forced out of existence.

At the time, three large American manufacturers dominated the market and dictated advances in technology. Launching Airbus then was a bold strategic decision for Europe - but a decision that paid off. There were many who predicted that Airbus would be short-lived. Within three decades, the consortium was able to claim a lead over Boeing, becoming in the process a symbol of successful European cooperation. Now, looking back over those first 40 years and looking ahead, it is clear that we need to adapt that pioneering spirit to the global economic environment that will face us in the second decade of the 21st century.