Finnair, the Finnish airline, outlined its predictions to celebrate its 85th anniversary and said the industry would thrive after overcoming the current economic downturn.

It said that newlyweds would be able to spend a romantic honeymoon in hotels, with holidaymakers being carried around in vast aircraft, just as cruise ship passengers.

An overnight stay could cost the equivalent of around 5,000 pounds.

The airliners will fly at up to five times the speed of sound, cutting short the journey from Europe to Australia to three hours.

"Aviation might not grow over the next year and there will be more bankruptcies, but by 2010 I think we will see things back on track," the Telegraph quoted Jukka Hienonen, chief executive, as saying, while launching the Departure 2093 project.

"Energy prices are only likely to get higher in the next 20 years if they are based on oil. But this will motivate crucial research into bio-fuels and sustainability," Hienonen added.

Kauko Helavuo, project designer, said: "New engine solutions will completely revolutionise air and land transport. Zero-emission engines will displace their polluting predecessors.

"Intercontinental aircraft will fly at four to five times the speed of sound.