IATA sees Asia leading growth in global airline industry

Singapore: The International Air Transport Association said Monday that Asia will lead a projected boom in air travel, accounting for about 30 percent of the world's 3.3 billion air passengers expected in 2014.
IATA chief Giovanni Bisignani said at a news conference in Singapore that the number of air travelers will rise to 3.3 billion by 2014, up from 2.5 billion in 2009.
An estimated 1 billion people will travel by air in the Asia-Pacific region by 2014, he said.
IATA said in a statement that China, Japan and Hong Kong will be the biggest international passenger markets in the Asia-Pacific region by 2014.
China will be the biggest contributor of new travelers, it said.
"The focus of the industry continues to shift eastward," said Bisignani, who had attended an international meeting IATA organized in Singapore last Saturday to discuss the future of the industry.
Asian airlines make up four of the five largest airlines in the world by market capitalization -- Air China at US$20 billion, Singapore Airlines at US$14 billion, Cathay Pacific at US$12 billion and China Southern at US$11 billion.
15/02/11 Mainichi Daily News, Japan

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Categories: Foreign Feb 2011, Indian Aviation- In General Feb 2011