Asia Pacific is gaining prominence in global aviation.
Here's what three major hubs – Hong Kong, Labuan and
Singapore can offer to lessors.
Amid the gloomy economic outlook on the collapse of oil prices,
the global aviation industry is bucking the trend. Over the next
two decades, world passenger traffic is expected to grow 4.8%
annually. Boeing is forecasting more than 39,600 new
aircraft valued at US$5.9trillion will be required to meet growing
demand. Airbus is also forecasting the growth in
passenger traffic to be at an average annual rate of 4.5%, with
passengers to more than double from today's 2.9 billion to 6.7
billion in 2032.
Total air traffic for the Asia Pacific region is predicted to
grow at an average of 6%. By 2035, passenger traffic throughout
Asia will constitute 48.7% of global passenger air traffic, and an
estimated 15,130 aircrafts valued at US$2.35 trillion will be
needed to meet this demand. As a result, the number of aircraft in
Asia will
