China will build 70 new airports in the next three years. China ambitious expansion comes amid a slowing local economy.
Head of Civil Aviation Administration of China (CAAC), Li Jiaxiang, added from 2012 to 2015, local airlines will add 300 fleet per year. It is also listed in the five-year economic plan of China.
"China plans to build 70 new airports in recent years, increasing the number of airports that are now reaching 100 pieces," said Li Jiaxiang in high-level meeting the International Air Transport Association (IATA) in Beijing.
Li Jiaxiang also targeting a number of airports in China could reach 230 pieces at the end of 2015, while China airlines will operate more than 4,700 aircraft.
China will continue to expand aggressively while Chairman Tony Tyler IATA airline warned profits could be reduced by half this year due to high oil prices and the crisis in Europe.
Based on projections of IATA, the airline industry profits in the Asia-Pacific will reach U.S. $ 2 billion at the end of 2012, this figure is even less than half profit ever achieved in 2011 ago.
China's economic growth slowed to just 8.1 in the first quarter of 2012. A fairly slow growth in the last three years. However, the economic growth of the Chinese government adviser, Ma Kai, said the China aviation industry has tremendous growth potential. "Since 2005, the airline industry has recorded an annual growth of about 17.5%," he said.
Li Jiaxiang added that until the end of 2011, China already operates a 2888 commercial aircraft. A total of 1.2 million people working in this industry.
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