The size of the global civil aviation sector has expanded very quickly in recent years with emerging markets such as the Middle East, Russia, and Asia. These emerging economic countries are known as BRIC (Brazil, Russia, India and China). Recently, we have added another acronym to the list with developing markets in Mexico, Indonesia, Nigeria and Turkey being labelled MINT. These countries were all deemed to be at the same stages of economic advance at any given point in time. In fact, they have grown so rapidly that the people who regulate the aviation industry have not been able to keep up with demand. Fit and proper regulations are a requirement if the markets mentioned are to manage the demand in the civil aviation sector, secure in the knowledge that the skies in which they fly are as safe as the can be. The most obvious thing leading aviation regulators and civil aviation authorities (CAAs) in emerging markets can do is look to developed markets for best practices in establishing a clear, sound framework, a set of policy priorities, eligible governance systems, and effective funding strategies.
For Myanmar, this has only been possible with the recent re-opening up of the country’s economy, triggering a tourist boom in the once-detached country. As a result, domestic carriers have had to upgrade their aircraft to meet the rapid growth and improve their safety record.
Foreign carriers have also been looking to cash in on the lucrative market either by setting up routes there or through joint ventures. Last year, All Nippon Airways purchased a major stake in Myanmar’s Asian Wings Airways.
Yangon was Southeast Asia’s aviation hub in the 1950s. Myanmar’s civil aviation industry then entered a dark period from the early 1960s until just a few years ago.
Rusada are pleased to announce that in March of 2014 we signed contracts with three South East Asian Airlines, two of which are based in Myanmar.
This is not only a great deal for Rusada as a company but a strong indication that Myanmar’s economy is steadily growing. The back pages of Myanmar’s weekly newspapers hold all the proof you need to support this. The pages are dedicated to the listing of all international and domestic flights out of the country. We are looking forward to the future where we get the opportunity to work with more MINT BRIC economies.