AsBAA endorses Frost & Sullivan Malaysia business aviation report
The Asian Business Aviation Association (AsBAA) has endorsed a report compiled by business consultancy Frost & Sullivan that finds that Malaysia could become a regional business aviation hub.
The report, published in July 2018, investigates the economic value that business aviation brings to a country and analyses south-east Asia’s business aircraft movements to determine the best location for a regional hub.
“AsBAA advocates for the quantitative value of BA to be formally researched and evidenced. We welcome the work of credible consultancy firms to define the economic potential of the industry and what needs to happen in terms of infrastructure change and regulatory adjustment to enable this. Business aviation is a magnet for investment, a driver for growth, a job creator” said AsBAA chairperson Jenny Lau.
Although the report positively identifies Malaysia as a possible new hub, it also states that regulatory issues related to registration, financing and cabotage policy as well as a lack of business-aviation infrastructure in the country are currently major roadblocks.
“We are aware of the limitations of existing infrastructure in many airports. With an active chapter in Malaysia, AsBAA is encouraged to see that this report reflects that Subang International Airport, Kuala Lumpur has been noted as being a prime location for development as the next regional business aviation hub and Aerotech Park. Despite some of the roadblocks identified in the report, there is clear opportunity,” said Ms Lau.
AsBAA says that, if Malaysia does go ahead with creating a regional business aviation hub, it will support its growth.
“Malaysia is not alone in requiring urgent reforms and deployment tests of new technologies to stimulate the sector. AsBAA supports Malaysian Airports with their proposed plans for growth, which will benefit the entire industry”, Ms Lau added.