CAAC cites global economic downturn for traffic slowdown
CAAC forecasts (27-Dec-2011) Chinese carriers will operate 5.6 million safe hours, an increase of 8.7% year-on-year, and operate 2.5 million flights, up 6.1%, in full year 2011. CAAC also reported the following forecast:
- Profit: CNY45.6 billion (USD7.1 billion), +5.1% year-on-year;
- Passenger numbers: 290 million, +8.2%;
- Passenger load factor*: 72.3%;
- Cargo volume: 5.5 million tons, -2%;
- Number of airports with annual passenger numbers exceeding 10 million: 21;
- Passenger numbers: 320 million, +10%;
- Cargo volume: 5.8 million tons, +4.7%;
- Investment in fixed assets: CNY158.5 billion (USD24.8 billion);
- Infrastructure investment: CNY75.0 billion (USD11.7 billion).
*First 11 months of 2011
CAAC director general Li Jiaxiang stated the slowdown in China’s aviation growth was due mainly to the global economic crisis while deputy director general Li Jun stated the country’s high-speed rail network had claimed some of the passenger traffic from airlines and the limited airspace set aside for civil aviation also restricted the growth of passenger transport (China Daily, 27-Dec-2011).
CAAC: "But the growth speed is still the highest in the world, and so is the industry's total profit, estimated at 45.6 billion yuan (USD7.2 billion) for 2011, which accounts for more than half of the profits of the global air transport industry," Li Jiaxiang, director general. Source: China Daily, 27-Dec-2011.