Domestic aviation industry poised for full recovery in late 2024

Vietnam’s aviation market is expected to fully recover in late 2024. (Photo: VNA)

Hanoi – Vietnam’s aviation market is expected to fully recover in late 2024, closely tied to the positive trajectory of the Asia-Pacific, according to the Civil Aviation Authority of Vietnam (CAAV).

The agency cited the International Air Transport Association (IATA) as saying that the global aviation industry is forecast to make a full recovery by the end of this year, with the Asia-Pacific to report a net profit of 1.1 billion USD in the year.

The Vietnamese aviation sector would serve about 84.2 million passengers this year, up 15 per cent from 2023 and 6 per cent from 2019 when the COVID-19 pandemic broke out.

Of the volume, the number of international passengers is set at 42.7 million, representing increases of 15.8 per cent and 6.4 per cent as compared with 2023 and 2019, respectively.

Meanwhile, the industry would handle 1.16 million tonnes of cargo in 2024, up 8.5 per cent year-on-year and equivalent to 92.2 per cent of the 2019 figure, the CAAV added.

Domestic air carriers said they will operate about 33,800 flights during the Lunar New Year (Tet) holiday, or between January 24 and February 2, up 14 per cent year-on-year and 21 per cent as compared with normal days.

There will be some 24,200 domestic flights, representing increases of 2 per cent from the same period last year and 27 per cent compared with normal days; and 9,600 international flights, up 60 per cent and 9 per cent respectively.

The busiest routes include Hanoi-Ho Chi Minh City, HCM City-Da Nang/Vinh/Dong Hoi/Quy Nhon/Chu Lai/Thanh Hoa/Hue/Tuy Hoa, and Can Tho-Vinh, and vice versa.

The airlines expect to fly 7.2 million passengers during Tet, the biggest holiday in the year in Vietnam, of them more than 5 million domestic, up 4 per cent year-on-year.

Overloaded airport infrastructure in Vietnam limits domestic aviation growth Experts have emphasised the need to socialise airport infrastructure in Vietnam to address the overwhelming passenger demand that has already surpassed the existing capacity.