The Earth Times
19th Feb 2008
DPA
Singapore - High fuel prices and the slowdown in the US economy are presenting a challenging year ahead for the aerospace industry, but the longer-term outlook remains positive, Prime Minister Lee Hsien Loong said on Tuesday. Opening the inaugural Singapore Airshow, Lee said the signs are "particularly encouraging" in Asia.
"The region is expected to lead the growth in air travel, as the industry's centre of gravity shifts to the East," Lee said. "With China and India integrating more closely into the global grid, demand for air travel in the region will soar."
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