October 2022 Full PDF final

AVIATION
COVER STORY
Socio Economic Impact
Asia-Pacific is experiencing the
world's highest growth in the air
transport sector. The Asia-Pacific
Aviation Market was estimated to
be worth $50.92 billion in 2020,
and it is anticipated to increase by
8.75% annually to reach USD 97.13
billion by 2026. A few key drivers
for the expansion of this industry
include the quick development
of the business environment, increased
purchasing power, and
the need for time savings. Along
with the growth of the industry,
the sector contributes to the
country’s GDP, increases job opportunity,
contributes to the businesses,
makes travelling convenient
for passengers.
The sector created 129,000 employments
and contributed 449
million to GDP in 2018, which is
around 0.18% of Bangladesh's
overall GDP (from domestic aviation
alone). Now, aviation and
tourism combined contributes 3%
to the GDP. The airlines, however,
have the option of increasing the
figure to 10%. Monthly, the airlines
can keep USD 100 million
foreign remittances with the help
of the government.
Nearly 50 aircrafts, including
freighters, are presently flown by
Bangladesh's commercial airlines.
Biman Bangladesh Airlines hopes
to have a USD 1 billion annual
revenue. At the moment, it has a
700 million USD yearly turnover.
In the meantime, Bangladesh Biman
just launched its first direct
trip to Canada, a long-awaited
destination that will significantly
increase the airline's income.
Aviation experts have claimed
that Biman might earn over $2
to $3 billion annually in revenue
if all foreign employees (about
10 million) made regular use of it
as their preferred mode of travel.
Additionally, Bangladesh Biman is
ready to fly flights on the Dhaka-
Youth's opinion on the airport services
New York route. Furthermore, it
will soon begin flying to China and
other foreign locations, which will
aid in increasing the amount of
money it collects.
US-Bangla Airlines is the first
airline from Bangladesh to begin
direct flights to Maldives
in November 2021, with three
flights per week. It now runs four
weekly flights (Sunday, Tuesday,
Wednesday and Friday) between
Dhaka to Male` with the intention
of increasing that to daily service
soon.
Moreover, two further local airlines,
Air Astra and Fly Dhaka, will
soon take flight to capitalize on
the expanding domestic aviation
sector, which is being bolstered by
the economic recovery and mobility
boom. Thus, we can expect further
increase in revenue, GDP and
economic contributions from the
growing sector of domestic aviation
companies.
Youths have been very sceptical towards airports, especially for international travel. Facing the horrific traffic
of Dhaka city and reaching the airport is a panic for travellers. Moreover, during the new normal phase
after the pandemic, it was challenging to fly international flights by keeping all the safety regulations in the
process. The long lines, extended procedures for safety measures, immigration lines due to slow process,
limited space at terminals, erratic parking, etc. have frustrate them more towards the services. All of these
have created a negative image in the minds of the country's youth. Moreover, they often complain about the
airports not being big and services not being modernized.
Civil Aviation Authority is sincere, efficient, and considerate about the problems, and we can see the actions.
Already CAAB is doing multiple projects to extend the capacity of the airports. New airports are being
built, more terminals are getting ready, technologies are being modernized, and systems are getting
smoother. More technologies are being introduced to enable the highest security and services. The
aviation industry is evolving to be better than ever. With the evolvement, the youth will
get the solutions to their complaints. We can expect a transformed aviation sector
with happier domestic customers soon.
Increased connectivity
The government has launched numerous development
initiatives to support the industry, assisting
Bangladesh in becoming a hub for aviation. The
upgrading of infrastructure and related facilities is
being done to ensure the desired growth of the air
transportation industry in Bangladesh. Air travel encourages
tourism, but in Bangladesh, we could not
see these two sectors successfully merge. By building
infrastructure, regional nations like Singapore,
Thailand, and even Sri Lanka have been able to secure
significant economic benefits. Doha, Dubai,
Sharjah, and Istanbul are all major contributors to
their own economies as aviation hubs. There is currently
no aviation hub in Bangladesh. Additionally,
the lack of infrastructure and development in aviation
sector was hindering the operations of foreign
airlines.
The country's unique geographic location positioned
between the East and the West presents tremendous
opportunity to capitalize on the advantages of
air travel. Bangladesh has even greater potential to
serve as a bridge for the transit of cargo because of
its close proximity to China, Hong Kong, Korea, Macao,
and other countries.
Currently, many international airlines are serving in
Bangladesh. They are – United Airways, Jet Airlines,
Malaysia Airlines, Singapore Airlines, Sri Lankan
Airlines, Thai Airlines, Emirates Airlines, Etihad Airlines,
Qatar Airlines, Air Arabia, Saudi Arabia Airlines,
Turkish Airlines, Kuwait Airways etc. With our
increased modernized and upgraded airports, more
airlines will be connected with us.
As all Bangladeshi domestic airplanes have expanded
their wings internationally, we can see more connectivity
with the world. The route map is expanding
and 2 more airlines are starting to support the demand
of domestic flights. The development projects
will increase connectivity among all over the world.
The Hazrat Shahjalal International Airport's Third
Terminal is taking shape, and by 2023 it is anticipated
to be operational. As a result, it will be able to
handle the increasing demand for air travel, particularly
in the Asia Pacific region. It is crucial that we
have 3 working international airports in our little nation,
and Cox's bazar will soon be added to that list.
Moreover, the govt. plans to upgrade Syedpur Airport
to regional airport status so that Bhutan, Nepal, and
other Indian states can use it.
To conclude, with a holistic strategy and a forwardlooking
vision, the aviation sector is likely to flourish
in the near future and contribute to the country's
economic progress. The government has put a lot of
thought in improving the infrastructure of the airports
that are already there and is making sure that
there are enough operational facilities. The industry
creates a lot of jobs, helps businesses to grow, promotes
tourism, and boosts the economy by collecting
tax, VAT, excise duties, and other fees depositing
them to the government. Asia-Pacific has the most
air travel growth. Bangladesh's unique position between
East and West can assure growth by becoming
travellers’ safest destination and transit point.
If Bangladesh can act as an aviation centre with the
necessary transit infrastructure, we will see a historical
change in the aviation industry.
22 PRESS XPRESS OCTOBER 2022 OCTOBER 2022 PRESS XPRESS 23