Annual Iranian Aviation Investment Potential: $5b

Tehran, Sept 2, IRNA - Newly established infrastructures in Iranian air transportation industries have paved the way for attracting $5b in national and international investments, the head of Civil Aviation Organization (CAO) of Iran said. Alireza Jahangirian was addressing the International Conference on Investment Opportunities in Iranian Aviation Industries held at the Foreign Ministry’s Training and Research Center on Sunday. “At present, transportation is the main pillar for the progress of societies and it is no longer considered a luxurious industry, as it was in the past,” he said. Jahangirian, who is also a deputy roads and urban construction minister, added that 58.1m people are employed in the global aviation industries, generating an income of $204 trillion. “In 2013, this sector transported more than three million passengers and 50 million tons of cargo, whose value equaled 35 percent of the total international cargo transportation,” he said. “It is predicted that air transportation growth will double in the next 15 years and the Middle East will have the greatest share in global growth.” Jahangirian said Iran registered 350,000 flights in 2013 carrying 25m passengers, including 8.5m international and 16.5m Iranian passengers. The official said that this year, in accordance with the country’s Fifth Development Program, unnecessary regulations were removed. “For instance, air transportation rates, which were formerly restricted, are subject to free rating by different airlines. This will contribute to capacity generation in Iran’s air transportation business,” he said./end