Domestic aviation industry poised for full recovery in late 2024

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).

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

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 US$1.1 billion in the year.

The Vietnamese aviation sector would serve about 84.2 million passengers this year, up 15 percent from 2023 and 6 percent 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 percent and 6.4 percent as compared with 2023 and 2019, respectively.

Meanwhile, the industry would handle 1.16 million tons of cargo in 2024, up 8.5 percent year-on-year and equivalent to 92.2 percent 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 percent year-on-year and 21 percent as compared with normal days.

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

The busiest routes include Hanoi-Ho Chi Minh City, HCMC-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 percent year-on-year.

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