24 Feb '11, 5am

China to spend US$230b on aviation sector

China to spend US$230b on aviation sector

BEIJING: China plans to invest more than 1.5 trillion yuan ($228.2 billion) in the aviation industry over the next five years to meet surging demand as its economy booms, the sector's top regulator said Thursday. By 2015, the country is expected to have more than 220 commercial airports and its fleet size will expand to more than 4,500 planes, Li Jiaxiang, head of the Civil Aviation Administration of China (CAAC), told reporters. "The ability of the civil aviation sector to serve the national economy and the public will be further strengthened" by that time, Li told a news conference. The country currently has 175 commercial airports in operation and keeps more than 2,600 aircraft in its fleet, according to Li. China has 43 airlines, including eight privately owned carriers. The major airlines are Air China, China Southern Airlines and China Eastern Airlines. Demand for ai...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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