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FINANCIAL NEWS
UAE’s investment in aviation at USD136b
30 Nov 2011
(MENAFN) UAE’s Minister of Economy and Chairman of the General Civil Aviation Authority’s (GCAA), Sultan Bin Saeed Al Mansouri, said that the country’s investments in its aviation sector were estimated at USD136 billion, reported Gulf News.
Al Mansouri added that the location of the UAE and its aviation infrastructure gave another option for global traffic hubs for travelers via airports like Abu Dhabi and Dubai.
He also said that the UAE encouraged better Arab regional collaboration through initiatives including the Damascus Convention, which allows airlines to operate free of traffic rights restrictions within the region.
It is worth noting that the demographic structure and the ratio of passengers to population boost development of the travel market, which is expected to reach around 400 million passengers by the end of 2020 from the 130 million passengers expected during the current year.
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