Shenzhen Airport has initiated expansion projects to become at par with regional and global competitors. (Photo : ideasgn.com)
In a bid to become a global transportation hub, the Shenzhen Airport has received an allocation of $1.76 billion from the city's $6.39 billion worth of capital spending in its 2015 budget.
The local government eyes to expand the airport by working on its third runway and its Terminal 4's land reclamation and soft foundation works.
The airport also plans to double its international routes. Both its worldwide and regional routes are expected to exceed 5.5 million trips come 2020. The total passenger volume is predicted to reach 55 million.
For the first half of 2015, the airport recorded a passenger throughput of 19.4363 million trips, a 12.9 percent increase year-on-year. Its aircraft take off and landing totaled 149,900 during the same period, a 10.8 percent rise year-on-year.
With the addition of its third terminal, the airport has pulled in a 2.55 percent year-on-year growth in terms of revenue, gathering $350 million for the first three quarters of 2015. The net income also increased $52.4 million, a 74.43 percent rise year-on-year.
For aviation expert Zhijie Lin, "while the impending implementation of 24-hour customs clearing will contribute to the growth of international air routes, the key driver for growth will be a carrier based in Shenzhen."
Among the airport's main regional competitors are the Hong Kong International Airport and the Guangzhou-located Baiyun Airport, both having a solid flag-carrier.
"China Southern Airlines is the largest carrier in Asia and Cathay Pacific is a top global carrier," Zhijie added.
The expert also suggested that in order to maximize growth, the Air China subsidiary should steer its development scheme according to its parent firm's main strategy.
