Tuesday, October 30, 2007

Airport Projects

Indian airport projects likely to be hit: IATA
Latest air transport industry forecast released by International Air Transport Association (IATA) contains some warning signals for India. In its recent airfreight volume forecast for 2011, the premier global body says that the enormous anticipated expansion in India that has fuelled record aircraft orders could be cut short by insufficient airport and air traffic management capacity.This mismatch between demand and capacity seems to be a local phenomenon, for Giovanni Bisignani, IATA’s director general & CEO, notes, “Parts of the world are effectively managing infrastructure development to anticipate and meet demand – particularly the Middle East and China.”However, there is good news for India. With 8.3% AAGR, India occupies second slot of the seven Asian countries that feature top ten freight markets. The others are: China (10.8%), India (8.3%), Republic of Korea (8.2%), Vietnam (7.5%), Sri Lanka (6.8%), Pakistan (6.7%) and Malaysia (6.2%).The Middle East, which is exhibiting rapid developments right now, will see the second highest growth at 5%. The fastest growing Middle Eastern markets are expected to be Qatar (6.9%) and Saudi Arabia (6.2%), the agency said.According to the forecast, global air transport industry is expected to handle 36 million tonnes of international freight – 7.5 million tonnes more than in 2006.

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