Tokyo's Narita International Airport has drawn up a management plan for its next two fiscal years.
The airport has set a target of handling 260,000 aircraft movements and 37 million passengers annually by FY2015, in anticipation of the upcoming open skies.
To attain its goal of becoming the key international airport hub of east Asia, the airport will be expanding its capacity and network in the coming years.
A dedicated low-cost terminal will be constructed by the end of FY2014, says Narita. Additional aircraft parking areas will be built in front of the new terminal, and at the southern end of Terminal 1 to increase its capacity to handle 300,000 aircraft movements annually.
The airport will also be upgrading its Terminal 2 facility, and installing additional baggage handling systems to enhance efficiency.
To better cater to the diverse needs of airlines, Narita is also working to conditionally relax its late-night operating restrictions, and increase the number of aircraft movements during peak hours. On top of that, additional facilities will also be built to accommodate large aircraft such as the Airbus A380.
To stay competitive, the airport will work towards introducing lower user charges and incentive schemes. Narita had earlier announced that it will be lowering international landing fees by an average of 5.5% from April.
Besides further upgrading its international network of mid and long-haul routes, Narita will also be paying more attention to increasing short-haul Asian routes within a 4,000km (2,160nm) range, where it believes "there is room for future expansion", as well as domestic routes.
To do all that, Narita will invest yen (Y) 145 billion ($1.49 billion) between FY2013 and FY2015. This investment will be covered by its operating cash flow.
"From a global perspective, we see continued development of mega-scale international hub airports in Asia against the backdrop of rapid economic growth in the region, and competition among airports is intensifying day after day. Under such circumstances, it is imperative that we adopt resilient global strategies and act in a speedy manner to overcome this rivalry," says the airport operator.
Narita airport handled 32.8 million passengers and 209,000 aircraft movements last year.