AAPA, Director General, Subhas Menon at the CAPA Asia Aviation Summit 2022

Transcript

Subhas Menon:I think aviation's recovery and the pent-up demand we are seeing in air travel, you know, it's irreversible, you know, because it was always there, but we didn't realize the extent of it. So that's very good news, very strong. And if you look at the macro picture, actually it is man-made, it's government-made, you know, the invasion of Ukraine, as well as the China factor, which is affecting the global economy. The rise of the US dollar is because of the economic conditions in the US, which is also brought on by supply chain issues. And the supply chain issues has also made me because of the Ukraine war, as well as the shutdown of factories, as well as shipping in China. So these things can always be reversed, whereas the pent-up demand is irreversible. So I think it's going to continue for well into the future. Well, I would say that, you know, it's a natural course of things. You know, China was on the rise, you know, when aviation was able to take advantage of a growing market. So China is at the moment not on the rise. So it's basically, you know, at a standstill or maybe even waning. But I think these things will change. And China will come back on stream. In the meanwhile, there are a lot of low-hanging fruits for aviation to take advantage of in the Asia-Pacific region. I think India, India is a new force to be reckoned with. Yeah. So Indian domestic market is already very strong. But with the rejuvenation of Air India, for instance, and the recalibration of the Indian aviation market, I think India will soon start to you know, also play its part. You know, Indonesia is another big market, you know, which is just waiting to open up again. So some of these things put together would be able to ameliorate the impact of the China decline. Right.

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