29 Jan '20
The second edition of the Global Investment in Aviation Summit (GIAS 2020) concluded on Wednesday on a high note, after three days of constructive discussions on the changing aviation landscape due to rapid technological advances and the Fourth Industrial Revolution that will shape the future of industry in the upcoming decades.
Organised by the General Civil Aviation Authority (GCAA) under the theme, 'Enabling global aviation growth through fundraising and key partnerships', the 2020 edition featured a line-up of interactive panel discussions that engaged top industry experts from more than 57 countries from all around the world.
The GIAS 2020, one of the world’s most influential knowledge-sharing platforms for the airline industry, attracted more than 1000 representatives from various entities including: government officials, speakers, delegates, experts, media representatives, academics and 120+ investors.
The three-day event spotted light on pressing topics including smart airports and sustainability, airport privatization models, successful business models, airport future solutions, airport finance and ways to channel more investment into the sector, amongst other topics.
During the sessions, industry speakers contributed with practical proposals to support the aviation sector and highlighted promising investment opportunities offered by aviation and its influential role in boosting sustainable development, while proposing solutions to deal with various challenges facing the global industry.
The third and final day of GIAS 2020 saw four panel discussions, the first of which 'Woman Entrepreneurship in Aviation: Global Leaders and their Visions'. The second session titled 'How will Urban Mobility shape aviation Investment? A necessary Outlook to Avoid Being Left Behind', discussed how to pump capital into the industry, the issue of looking for stable destinations and markets, as well as the most successful tools in guiding and developing the aviation industry.
The panel also discussed ways of harnessing the power of technology in creating an ideal environment for aircraft and their users in various fields of travel, air transport, cargo freight and other related services.
Panelists, who engaged in the third session, explored ways of 'Unleashing Investment for Building Capacity within Next Generation of Aviation Professionals'. The third day concluded with 'Why is Investing in Environmental Sustainability Profitable?'
H.E Saif Mohammed Al Suwaidi, Director General of GCAA, thanked top government officials, high-level delegates and giant airline companies for their active participation and impressive contributions to the summit. He noted that this overwhelming participation reflects the importance and vitality of the air transport sector and reinforces the UAE’s stature as a leading player in the aviation industry.
Al Suwaidi underlined the importance of the great impact of the panel discussions in creating a common ground and understanding of the need to channel more investment into the sector, which has become one of the key drivers and contributors to economy.
'The overwhelming gathering of participants is a testament to the shared views and commitment to develop this vital industry through partnerships and cooperation agreements that help explore new strategies and ways to establish a culture of an environmentally-friendly airline industry,' Al Suwaidi emphasized.
The GIAS 2020 aimed to highlight promising investment opportunities offered by the aviation industry, where it brought together hundreds of aviation investors from around the world, as well as a number of industry leaders, government officials, private funders, asset owners and airline companies, as well as a selection of aircraft operators and logistics providers. The summit succeeded in drawing an impressive number of visitors.
The UAE has realized the importance of the SME sector in boosting the national economy and global economic development, as well as its contribution to GDP. Therefore, it introduced economic legislation and rules necessary to attract more local and international investors to this vital sector.