Beijing inched one step closer to taking the crown for the world’s busiest airport.
As the ranks of the Chinese middle class swell and more people take to the skies, passenger traffic at Beijing International Airport rose to a new record of 95.8 million last year.
This increase at the world’s second-busiest air hub - at least the fifth straight year of gains - has allowed Beijing Capital International Airport to narrow the gap with top placed Hartsfield-Jackson Atlanta International Airport, whose passenger numbers fell in 2017.
China is forecast to overtake the United States as the world's biggest air-travel market as soon as 2022. To cope with the surge in fliers, Beijing is building a $12.9 billion mega airport in a southern suburb that is scheduled to open next year. It would accommodate as many as 100 million passengers annually, with the existing and new airports likely sharing 170 million travellers a year by 2025, according to official estimates.
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The new airport has been designated by authorities as the hub for members of the SkyTeam alliance, a global group of airlines that includes China Eastern Airlines and China Southern Airlines. The two state-owned Chinese carriers will each be allowed to capture 40 per cent of the airport’s passengers, gaining coveted time slots to Europe and the US in flag carrier Air China’s backyard.
Beijing will also be joining a select list of major cities with two or even three international airports, including London, New York, Tokyo and Paris. Unlike in Beijing, though, those airports usually take complementary roles, such as one serving international or intercontinental routes and the other focusing on domestic or regional flights.
Skewed figures
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
NYBL PROFILE
Company name: Nybl
Date started: November 2018
Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono
Based: Dubai, UAE
Sector: Software Technology / Artificial Intelligence
Initial investment: $500,000
Funding round: Series B (raising $5m)
Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
- The introduction of tariffs could hinder the US's clean energy initiatives by raising input costs for materials like nickel
- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
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Director: Basel Adra, Yuval Abraham, Rachel Szor, Hamdan Ballal
Stars: Basel Adra, Yuval Abraham
Rating: 3.5/5
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