24 Feb '11, 5am

China to spend $291b on #aviation sector via @cmswire

BEIJING - CHINA plans to invest more than 1.5 trillion yuan (S$291 billion) in the aviation industry over the next five years to meet surging demand as its economy booms, the sector's top regulator said on 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, Mr 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 Mr Li. China has 43 airlines, including eight privately owned carriers. The major airlines are Air China, China Southern Airlines and China Eastern Airlines. Dema...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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