Airbus: China's air transport to soar
Chinese air transportation is to grow nearly five times than its current volume by 2022, Adam Brown, Airbus's Vice President of Customer Affairs Division, made the prediction during his China visit.
According to Brown, airline traffic volume on the Chinese mainland will see a robust long-term growth. He predicted that passengers carried by airlines of the Chinese mainland will grow at an annual rate of more than 20 per cent in both 2004 and 2005, respectively. After then, the passenger traffic would score a@normal growth averaging 8.1 per cent per year to reach about 500 billion passenger/kilometer by 2022, Brown said.
Brown attributed the rapid growth of China's air transportation to a robust growth in GDP and personal income, deregulation of ticket prices, privatization of airlines, less restrictive bilateral air services agreements with other countries, and the increasing number of visas being issued to outbound tourists.
Further stimulus to the increase in aviation market will be provided by such major events as the Beijing Olympic Games in 2008, Shanghai Expo in 2010 and Guangzhou Asian Games in 2010, as well as the setup of a free-trade zone between China and the Association of Southeast Asian Nations (ASEAN), he said.
Between 1980 and 1998, demand for air transportation on China's domestic air routes increased 20 times, growing at an average of 18 percent per year.
During the same period, the airlines of the Chinese mainland achieved even more stunning growth of more than 20 percent per year on international routes.