China’s Next Gold Rush: Aviation

China’s next gold rush?  Aviation.  China will need to train around 500,000 civilian pilots by 2035, the nation’s civil aviation authority says, up from a few thousand pilots now, according to a report from Reuters.

The gold rush comes as a the nation’s aviation authority looks to boost transport infrastructure by relaxing rules that will allow for private planes to fly below 1,000 meters without military approval starting in 2015, according to Reuters.

Although the new rule will not impact commercial airlines, as they fly at a much higher altitude, however the new relaxed rule will open up airspace at a much lower altitude which will pave the way for Chinese high-rollers to charter or fly their own planes versus flying commercially.

According to Reuters, there are over 200 new firms that have applied for general aviation operating licenses.

Despite the clear demand to train pilots in China, the nation’s civil aviation authority’s training facility is at a disadvantage, as it is only capable of handling up to 100 students a year, according to the report.

The remaining 12 or so aviation schools in China are “bursting at the seams”, Reuters says, adding that foreign investors are teaming up with local firms to lay out the groundwork for setting up additional courses.

Industry executives expect that Beijing will issue a detailed guideline on how it will implement its plan to open up its airspace below 1,000 meters in 2015 and expand the open skies to airspace below 3,000 meters by 2020, according to Reuters.

Source: Reuters