European aircraft manufacturer Airbus is mulling new initiatives, including potential joint ventures, in China to expand its presence outside industrial areas in the world's fastest growing aviation market, a top company executive said.

The Toulouse, France-based airplane producer is looking at several opportunities in areas including aircraft financing and leasing, air traffic management and navigation procedures, aircraft maintenance, repair and overhaul (MRO), and onboard wireless communications connectivity, said Laurence Barron, Airbus China president.

"In the past we concentrated on industrial projects. But we are now looking at a much wider area to develop our presence and increase our footprint in China," Barron said."In the short term, we probably can move forward on one or two additional cooperation projects outside the traditional industrial areas."

Barron said all these areas present huge market potential for Airbus, while he declined to release further details on potential projects.

China's ambitious plan to build 97 new airports by 2020, while expanding existing ones, to bring the total number of airports to 244, will provide great market potential for air traffic management systems and the development of modern navigation procedures, Barron said.