AVIATION experts from all over the world will convene in Abu Dhabi this month to discuss the impact of the global credit crunch and lower oil prices on an industry that has been going through several upheavals.
Peter Harbisson, chairman of the Centre for Asia Pacific Aviation (CAPA) who will chair the summit organised by Terrapinn, a global business media company said, “No country will be immune from the significant pressures being felt across the developed world, but a key feature in the Middle East is that the industry is still growing albeit at a lower rate. The prospects are that this growth will continue.”
Speakers at the event to be held at the Beach Rotana Hotel from March 3 to 5 will include top officials from international and regional airlines including Etihad, Oman Air, Turkish Airlines, Wataniya, Royal Jet, Gulf Air, Air Arabia, Sama, Qatar Airways, Jazeera Airways, Airblue, Maximus Air Cargo, Kingfisher, Air Asia X, Kuwait Airways and Mihinlanka Airlines.
Hifazat Ahmad, Terrapinn’s general manager said, “These are very interesting times for the region which is adding extra capacity both to its airports and airline fleets over the next two years. We have seen regional airlines already becoming more aggressive in their growth and sales strategies. There are seismic changes in the regional aviation industry which could shift the balance of world gateways into the Middle East.”
Overall, the 10 leading airports in the Middle East are building enough capacity to handle 320 million passengers per annum by 2012. Last September alone, Abu Dhabi and Dubai airports have increased their annual passenger handling capacity by a total of 32 million passengers with the opening of two new dedicated terminals for Etihad and Emirates Airlines. The total capacity of the two airports has risen to 72 million passengers per annum.
Abu Dhabi is already proceeding with plans for the new midfield terminal complex, which is due for completion by 2012, boosting passenger capacity by approximately 20 million per annum. Qatar has plans to double its capacity to 24 million passengers per annum by 2011.
Airlines are also gearing themselves to weather the difficult times as the world economy undergoes a period of significant weakness. “A dose of unfriendly economic conditions could set the Middle East airlines on course for a position of long term strength, even if they too must suffer some pain,” said Harbisson.
Within the next 12 months, regional airlines are scheduled to take delivery of 200 aircraft out of total current orders for 1,105 aircraft. The region’s airlines currently operate 971 aircraft.