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Flying High: China's Aviation Industry Looks To The Future
October 31, 2003 | BY
clpstaff &clp articlesChina's civil aviation sector looks set to grow considerably in the coming years as tourism expands and amid general economic expansion. The authors take a close look at China's airlines and the prospects for the industry as a whole.
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By Andrew Lockhart and Harvey Lau ,Baker & McKenzie
The General Administration of Civil Aviation of China (the CAAC) has forecast strong growth for the country's airline industry. The CAAC predicts average annual increases in Chinese airline traffic of around 10%, which is based on an estimated 7% economic growth per year. The CAAC also anticipates that by 2020 annual revenue tonne kilometres for the country's airlines are expected to reach 84 billion, compared with 16.2 billion in 2002, ranking China's air transport market second in the world.