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Insider Upbeat About China's Aviation Market
Chief Executive Officer of China Southern Airlines Yan Zhiqing said that the nation's aviation industry will continue to develop at a fast speed with an anticipated annual growth of more than 10 percent in the next decade.
Yan Zhiqing said the air freight market and the international market in particular will be one of the largest beneficiaries after China's entry to the World Trade Organization. "Once tax barriers are lifted, the transportation of goods between China and other countries will increase at an amazing speed."
The CEO noted that if the Civil Aviation Administration of China allows more foreign investment shares his airline will be possible to relieve its debt and become more competitive.
Southern Airlines is expected to open up its transportation goods globally, said the CEO. A base will be set up in Shenzhen of South China's Guangdong Province and more large air freighters will be purchased. China South Airlines also sees the new airport in Guangzhou, capital of Guangdong Province, as important to expand their operations.
Yan is negotiating with a few foreign companies to develop aviation business in Guangzhou. New lines will be opened in August from Guangzhou to Sydney, Melbourne and the daily flights will increase from 8 hours to 15 hours.
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