European aerospace corporation Airbus recently announced that the company is looking forward to expanding its aviation investment towards the South East Asian country of the Philippines. Recent market data have revealed that the Philippines is one of the hottest growing markets when it comes to aviation. In order not to be left behind in this potential commercial hotspot, Airbus is planning to bet big.
A handful of recent market studies have revealed that the Philippines continues to stay positive towards its economic expansion and population grown. An executive from Airbus said that the Southeast Asian country currently stands as one of the best places to invest in Asia, especially in the aviation industry.
Airbus executive vice president for sales in Asia Jean Francois Laval revealed during a presentation that air traffic in the Philippines over the span of the next 20 years have a forecasted increase of 6.1 percent annually. The forecast also shows that domestic air traffic in the country will rise 6.7 percent annually.
In a statement, Mr. Laval said, "An economic growth of the Philippines forecasted at five percent per year, and the population will reach, we think, 135 million by 2037.
Mr. Laval added that their forecast growth of more than six percent has outpaced the company's overall forecast for Asia. With this impressive growth forecast, Mr. Laval believes that the Philippines is well in the forefront as the best country to invest in aviation.
Mr. Laval's forecast about the growth of the aviation industry of the Philippines is backed by the fact that Japanese airline giant ANA Holdings recently made a substantial investment to the country's official flag carrier, Philippine Airlines. ANA Holdings, the parent company of the largest Japanese airline company All Nippon Airways, invested a total of $95 million to Philippine airlines. This represents an acquisition of 9.5 percent of outstanding shares of PAL Holdings, the parent company of Philippine Airlines.
Another evidence to the growing aviation market in the Philippines is the confirmation of Changi Airport Philippines Pte. Ltd to operate in the country's Clark International Airport located in Pampanga. Aside from the world-renowned Changi consortium, South Korea's Incheon airport is also slated to a partnership with the San Miguel Corporation for a proposed airport project in the province of Bulacan.
Both Changi and Incheon are among the top and most respected aviation operators in the world. Incheon has been consistently rated as one of the best airports in the world since 2006.
