Over the last decade, domestic air traffic in India has grown from 13 million people annually to an estimated 52 million in 2011, making it the fastest-growing passenger market among major economies. Yet India’s airline industry is losing money and in deep debt, with few solutions in sight.
Airbus CEO Tom Enders said the company will fix problems in the wings of the A380 superjumbo, after cracks were detected last month, and said he hoped the issue won't hurt sales of the aircraft in its target markets of Asia and the Middle East.
Business is booming for Indonesia’s luxury jet charter firm Enggang Air Services and the company’s CEO Donnie Armand tells CNBC he is planning to expand his fleet size by 50 percent this year — a reflection of the country’s surging demand for private jet travel.
While Europe's debt crisis and global economic uncertainty are threatening airline profitability in the West, in Asia airlines are experiencing relatively strong growth. But rising capacity and cut-throat competition are threatening to derail that.
Despite speculation that Chinese aerospace manufacturer COMAC could one day rival heavyweights Airbus and Boeing, the firm says its focus stays on the domestic market.
The European Union’s Emissions Trading Scheme (ETS) aimed at reducing the carbon footprint of airlines, if successfully implemented, could erode more than 30 percent from the struggling industry’s profits, Tony Tyler, CEO of The International Air Transport Association (IATA), said.
Despite seeing its annual cargo throughput fall by more than 8.5 percent in 2011, the CEO of the world's largest air cargo carrier, Cathay Pacific Airways, tells CNBC he still sees long-term growth in the cargo business with China leading the charge.
The event is the largest aerospace and defense airshow in Asia, bringing together heads of the international aviation community.