50 SKY SHADES - World aviation news

China to invest $12b in civil aviation projects this year

Download: Printable PDF Date: 12 Jan 2016 09:54 (UTC) category:
Publisher:
China to invest $12b in civil aviation projects this year - Airlines publisher
Tatjana Obrazcova
Country: China Aircraft: Airplanes
Source: Gulfnews

China will allocate about 77 billion yuan ($11.7 billion) for investment in civil aviation this year, beginning with 11 key projects, as the country looks to improve infrastructure to cope with surging air-travel demand and bolster economic growth.

The country also will begin 52 aviation-related expansion or upgrading projects this year, and a blueprint for new airports to be built by 2030 will be launched later this year by the Civil Aviation Administration of China and the National Development and Reform Commission. China’s chief civil aviation regulator said the agency will help domestic and international airlines start more than 200 new overseas routes this year.

The figures and comments, reported Monday by the official China Daily newspaper, were confirmed over the phone by a representative at CAAC’s media relations office. CAAC declined to make available a copy of the full work report, dated Dec. 24, or identify the new projects or upgrades slated for this year.

China is building airports to cater to booming air-travel demand as the country’s middle class grows. With recent data showing anemic economic growth, infrastructure investment also offers a familiar way for authorities to shore up the economy.





Recommended

KVE celebrates 30 years of innovation and accelerates its growth within the Daher Group

KVE by Daher is marking its 30th anniversary with the inauguration of a significant expansion of its production facility in The Hague — a development that signals the start of a new acceleration...

Samson Sky secures $80 million to launch switchblade flying car production

Samson Sky, developer of the Switchblade Flying Car, announced it has secured an $80 million investment from Dubai‑based Matin Group. According to Sam Bousfield, CEO, Founder...

TAROM took delivery of its first Boeing 737 MAX

Boeing, TAROM and CDB Aviation have celebrated the delivery of the airline’s first 737‑8, marking the arrival of Romania’s first Boeing 737 MAX and a key milestone in the national carrier&...

HondaJet Echelon advances to next phase with successful wing assembly

Honda Aircraft Company announced the completion of the first wing structure for the HondaJet Echelon test aircraft, marking a pivotal advancement in the program and moving the new light‑jet platform i...

Android Apps development in Riga, Latvia