Singapore paper: Vietnam’s aviation industry takes off

October 26, 2013 | 11:11

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Vietnam will become one of the world’s third fastest growing aviation markets, according to Lianhe Zaobao (United Morning) newspaper in its October 23 edition.

The paper reported Vietnam’s demand for air travel has achieved two-digit growth in 2013, creating plenty of opportunity for world renowned aircraft manufacturers such as Boeing and Airbus.

Vietnamese aviation companies plan to increase aircraft numbers, open new routes and equitise themselves to mobilise more operational capital.

The domestic aviation market has boomed over the years, attracting considerable interests from concerned parties. The International Air Transport Association (IATA) forecast by 2014 Vietnam would become the world’s 3rd fastest growing market for international passengers and freight, just after China and Brazil.

IATA predicted the Vietnamese aviation market would transport 34-36 million passengers and 850,000-930,000 tonnes of cargoes by 2015, and 52-59 million passengers and 1.4-1.6 million tonnes of cargoes by 2019.

Lianhe Zaobao quoted Vietnam’s aviation industry statistics, saying the number of passengers on domestic routes will increase 15% in the coming year, tripling 2012’s figure.

The burgeoning aviation industry helped fuel Vietnam’s economy which has slowed down over the past two years, the paper reported.

VOV

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