Asia at the forefront of global traffic growth: Singapore official

20:29, November 03, 2010      

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Asia will be at the forefront of global air traffic growth in the years to come, a Singapore official on Wednesday said.

Speaking at a local meeting, Singapore's Minister in Prime Minister's Office Lim Hwee Hua highlighted that Boeing predicts that air traffic in the Asia Pacific region will grow by nearly seven percent per year over the next two decades.

This is more than two percentage points above the forecasted global average annual growth rate, for which Singapore is well- poised to exploit the opportunities.

Given the competitive landscape, the MRO(MaintenanceRepair and Operations) sector here will have to raise productivity and pursue innovation to enhance its competitiveness.

As MRO companies look to increase their footprint in Asia, Singapore hopes to position itself as the home for MRO businesses and to attract talents looking to operate in this high-growth region.

The availability of comprehensive financial services and excellent logistics network add to Singapore's attractiveness for businesses tapping on the growth of aircraft leasing and rotables management in Asia.

Source: Xinhua


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