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China to build 70 airports by 2015

12 June 2012 08:22 (UTC +04:00)

Baku - APA-Economics. China will build 70 new airports within the next three years, the head of the country’s aviation watchdog has said, as part of ambitious expansion plans in the industry despite an economic slowdown.

Civil Aviation Administration of China (CAAC) chief Li Jiaxiang also reiterated pledges that carriers would buy on average more than 300 planes a year from 2011 to 2015 - the country’s current five-year economic plan.

"China plans to build 70 new airports in the next few years and to expand 100 existing airports," he told delegates in Beijing at the annual general meeting of global airline industry group IATA.

He added that the number of airports would reach more than 230 by the end of 2015, and that Chinese carriers would operate around 4,700 planes by then.

The aggressive expansion comes after IATA head Tony Tyler warned that global airline profits would more than halve this year on the back of surging oil prices and the eurozone crisis.

The airline industry in the Asia-Pacific region is expected to turn in a $2bn (Â£1.3bn) profit in 2012, according to IATA figures released on the sidelines of the AGM, but this still represents less than half of the region’s 2011 profit.