The Ministry of Finance has issued a decision No.3282 to lower airfares for domestic services by 15 percent.
As per the decision, economy-class ticket prices for domestic routes should be capped at VND4,250 per passenger per kilometer, in lieu of the current VND5,000.
The decision will take effect on January 1, 2015.
Nguyen Anh Tuan, head of the Pricing Department under the Ministry of Finance, said that the ministry decision to reduce the ceiling airfare based on many factors including slumping fuel costs.
The Civil Aviation Authority of Vietnam under the Ministry of Transport said that it would issue detailed guidelines for airline carriers to review airfares.
