Vijayawada: Vice President M. Venkaiah Naidu on Tuesday said India has the potential to become a global aviation hub for Maintenance Repair and Overhaul (MRO) following a growing aviation business, huge pool of engineering talent and low labour costs.
Naidu inaugurated the first international flight from Vijayawada to Singapore and laid the foundation stone for the integrated passenger terminal building at Vijayawada Airport.
"The Indian civil aviation industry is growing at a rapid pace and is considered the third largest domestic civil aviation market in the world. According to projections, it is poised to become the world's largest domestic civil aviation market in the next 10-15 years. Investments to the tune of Rs 1 lakh crore are expected in the next five years," Naidu said.
He said the passenger traffic which witnessed 14.1 per cent growth over the last five years is likely to touch about 400 million by the year 2020.
He said that in spite of the growth in passenger traffic, some of the airlines were facing problems and hoped that things would improve soon for them.
The Vice President said that an international flight from Vijayawada to Singapore would further enhance the connectivity as well as Andhra Pradesh's business and tourism potential.
04/12/18 IANS/Business Standard
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Naidu inaugurated the first international flight from Vijayawada to Singapore and laid the foundation stone for the integrated passenger terminal building at Vijayawada Airport.
"The Indian civil aviation industry is growing at a rapid pace and is considered the third largest domestic civil aviation market in the world. According to projections, it is poised to become the world's largest domestic civil aviation market in the next 10-15 years. Investments to the tune of Rs 1 lakh crore are expected in the next five years," Naidu said.
He said the passenger traffic which witnessed 14.1 per cent growth over the last five years is likely to touch about 400 million by the year 2020.
He said that in spite of the growth in passenger traffic, some of the airlines were facing problems and hoped that things would improve soon for them.
The Vice President said that an international flight from Vijayawada to Singapore would further enhance the connectivity as well as Andhra Pradesh's business and tourism potential.
04/12/18 IANS/Business Standard
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