Airbus and parent firm EADS are due to reveal details on their upcoming new range of mid-sized airliners as well as a freighter model.

These new aircrafts are being planned to take away the initiative from bitter rivals Boeing. EADS co-Chief Executive Tom Enders said in a statement that this new line-up of twin-aisle, long-range planes would cost about $10 billion in development costs.

He said: “This important segment - long-range, wide-body - is one we won’t desert. You can be sure that Chief Executive Officer Christian Streiff will present the new A350 (at) the air show on Monday.”

Airbus is also expected to announce a freighter version of the existing A330 passenger jet to reach the market in late 2009.

These are expected to be displayed at the upcoming air show, which opens at Farnborough, near London, on Monday.

Airbus Executive Vice President Tom Williams spoke on their planned A350 aircraft: “It’s a very powerful product that will allow us to re-assert our position in the marketplace.”