Malaysia Airlines is not the only organization to recognize the region’s potential as an aviation hub. According to a global industry intelligence provider Aviation Today, the Asia Pacific, which covers Japan, Korea, China, Australia and India, accounts for more than 8,300 flights and 1.2 million travelers daily.

Further statistics from Aviation Today suggest that between now and 2028 Asia Pacific air travel is expected to grow from 32 percent to 41 percent of the world market. In order to meet this demand aircraft manufacturing giant Boeing says the region will require 8,960 new commercial jets valued at approximately US$1.1trillion.

In response to the potential of this multi-billion dollar industry, POA is built on four central elements, all critical to sustaining growth - government; knowledge; finance and commercialization. Based on these four elements, the summit will cover the importance of government regulations, incentives and support, research and development, investment opportunities and how to turn these opportunities into worthwhile investments.

Nicholas Watson, Managing Director of naseba, commented “The summit couldn’t have been timelier. Despite the recent challenges, in the form of natural disaster and economic crisis, things are looking up; but the industry needs to remain focused in order to make a complete and successful recovery. What we are seeing in the Asia Pacific is a unified effort from all sectors to ensure that the industry works together for the future benefit of the region.”