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June 23, 2017

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Aviation helps growth take off in Asia Pacific region: official

HO CHI MINH CITY -- The aviation industry, which has played an important role in economic development in the Asia Pacific region, will continue to do so but faces challenges, a senior international aviation official said at the South East Asia Airport Expansion Summit 2012 in HCM City yesterday.

"Significant investments are needed to meet the projected growth in demand, including fleet expansion using newer, more fuel efficient aircraft, more necessary aviation infrastructure with modern airports and air traffic management systems," Vinoop Goel, assistant director of the International Air Transport Association (IATA)'s Member & Government Relations said.

"Around US$700 billion has been invested in the industry in the last 20 years but air travel at some airports is still "a mess," he added.

In 2010 the Asia Pacific accounted for 34 percent of global traffic share with 780 million passengers. It had 1,207 commercial airports and 359 airlines, providing 24.1 million jobs and adding US$470 billion to GDP.

This region is estimatedly increasing traffic by 3.9 percent for and capacity by 3.3 percent this year.

Around 600 airplanes were sold to the region this year out of a global total of 1,560.

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