70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnam’s aviation industry eyes full recovery by 2024
Thanh Thanh 11:57, 2024/01/29
This year, Vietnamese airlines are expected to carry around 61 million passengers, an increase of 9.3% over last year.

Vietnam’s aviation industry is forecast to fully recover by the end of 2024, based on trends in the Asia-Pacific region, according to the latest projection from the Civil Aviation Authority of Vietnam (CAAV).

Total air traffic is expected to hit about 84.2 million passengers in 2024, up 15% from 2023 and 6% from 2019, the authority said.

 From January 11 through February 24, each passenger may check in with an apricot or peach blossom branch. Photos: Vietnam Airlines

 

Domestic air traffic is estimated to hit around 41.5 million, an increase of 3.3% from 2023 and 11% from 2019. International passenger traffic would reach approximately 42.7 million, up 15.8% from 2023 and 6.4% from 2019. International passenger transport is expected to total 19.5 million passengers, an uptick of 24.6% from 2023 and 10.6% compared to 2019.

Regarding freight, total demand is expected to rise to 1.16 million tonnes in 2024, an upsurge of 8.5% from 2023 and 92.2% from 2019. 

CAAV said the market is expected to benefit from favorable factors such as the tourism development policies of domestic and international destinations.

"In addition, the planning and opening of new routes by Vietnamese and foreign airlines are also opportunities for market development," CAAV's management said.

In addition to the advantages and opportunities, the Authority recognizes that the aviation industry still faces many challenges and risks that could directly affect its recovery and development.

The challenges and risks include unresolved uncertainties and negative factors affecting economic growth, both domestically and internationally, such as the risk of inflation, continued exchange rate appreciation, tight monetary policies in many countries, interest rates not in line with the current situation, and unfavorable developments in aviation fuel prices, the Vietnamese authority pointed out.

Multiple leverage policies in place

 The first passengers from Hanoi landed at Dien Bien Airport.

The Vietnam Civil Aviation Administration has reaffirmed its commitment to closely monitor the situation, forecast market demand, and coordinate with airlines and industry units to find timely and appropriate solutions to the current circumstances.

It has also proposed that the government reduce certain taxes and fees until the end of 2024 and implement interest support policies for enterprises in the aviation industry. They also encourage Vietnamese airlines to ensure transportation capacity and increase operational capacity.

It will cooperate with foreign aviation authorities to support Vietnamese airlines operating at their airports. In addition, it will continue to help airlines strengthen their transportation capacity by adding aircraft to their fleets to help accelerate recovery and development.

In addition, CAAV encourages Vietnamese airlines to operate international routes from airports other than Noi Bai in Hanoi and Tan Son Nhat in Ho Chi Minh City, such as Danang City, Cam Ranh, Hue, Phu Quoc Island, Van Don, Cat Bi, and other domestic airports capable of operating international flights, such as Lien Khuong (Dalat City in the southern province of Lam Dong) and Phu Cat (in the central province of Binh Dinh).

CAAV encourages Vietnamese airlines to strengthen cooperation with tour operators and local communities to implement tourism promotion programs, offer air travel packages, and expand charter flights from emerging markets in South Korea, China and Japan to tourist destinations in Vietnam.

RELATED NEWS
TAG: Vietnam Airlines Vietnam news vietnam aviation Travel to Vietnam
Other news
11:10, 2024/04/19
Trade ministry proposes purchasing renewable electricity mechanisms without EVN’s involvement
The draft decree stipulates that buyers must be organizations or individuals using electricity for production from a voltage level of 22 kV or higher, with an average monthly consumption of 500,000 kWh.
22:00, 2024/04/18
Australia and Vietnam develop competitive electricity markets
Climate change, energy, and environment are pillars of Australian Comprehensive Strategic Partnership with Vietnam.
12:12, 2024/04/12
Vietnam, Thailand advance realization of “Three Connections” strategy
Businesses from both countries are encouraged to expand their trade and investment activities, to increase bilateral trade to US$25 billion in a more balanced and sustainable way.
06:29, 2024/04/12
Vietnamese Gov’t to expand list of electricity buyers under direct power agreement scheme
The direct power purchase (DDPA) mechanism has been repeatedly proposed by foreign-invested enterprises to be piloted in Vietnam, as they believe it will have a positive impact on competition in Vietnam's energy sector.
06:09, 2024/04/12
Viettel opens largest data center in Vietnam to support AI development
By 2025, Viettel will invest in expanding the scale to 17,000 racks.
17:16, 2024/04/11
Vietnam’s economy expected to grow at solid pace in 2024-2025: ADB
Given global uncertainties, policies in 2024 would therefore need to combine short-term growth support measures with long-term structural remedies to promote sustainable growth