With current aircraft orders for nearly 490 jets (for deliveries up to 2010-15), worth $30 billion, by both the players, India is turning out to be a major hub after the Middle East, Peter Harbison, CAPA managing director said in Mumbai on Monday.
The aviation world is shifting its axis from the US and Europe to the Middle East, Asia pacific, including India, and China which are now dominating the growth, the head of the Australian-based consultant outfit on aviation said in Mumbai at the 'Aviation & Tourism Investor Summit'.
He said economic growth, free trade agreements, liberalisation and new entrants like low cost carriers had led to the spurt in this sector but warned that due to non-development of infrastructure and shortage of human resources, including pilots and engineers, may constrain this growth.
Harbison feared that restriction on foreign investment, specially in airport infrastructure, could also lead to a slow down in job creation and wealth creation as compared to China, which might emerge as the third hub in the middle east and Asia Pacific region.
International Air Transport Association assistant director, Peter Bysouth said India has to see significant investment in airport infrastructure, which should be appropriate to the expanding market.
The US department of transport chiefs of the Europe division, David B Modesitt said the open sky policy agreement with US has led to code sharing and tie ups between airlines of both the countries.
It has also helped in operating to more destinations in both the countries and entry by private Indian carriers, he added.
Dubai civil aviation department director (strategy and management excellence) Jaml Al Hai said Dubai was building another airport at Jebel Ali at a cost of $3 billion, which would have six runways with six concourses, a science and logistics and exhibition city.
Two concourses (II and III) at the present Dubai airport are being readied to accommodate five and 18 A380 super jumbos respectively when they enter commercial service.
