Vietnamese airplanes at Noi Bai International Airport. (Photo: VietnamPlus)
Hanoi (VNA) – The Vietnamese aviation ma༺rket is set to fully recover by the end of this year since the Asia-Pacific market warms up, according t🏅o 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 market expected to report a net profit of 1.1 billion USD in the year.
The Vietnamese aviation sector is likely to transport some 84.2 million passengers, rising 15% against 2023 and 6% against 2019 – the year before the COVID-19 pandemic broke out.
Of the figure, there will be about 41.5 million domestic passengers, up 3.3% year-on-year and 11% from 2019, while the number of international passengers will rise 15.8% from last year to 42.7 million.
Additionally, the sector will handle 1.16 million tonnes of cargo in 2024, growing 8.5% year-on-year and accounting for 92.2% of the volume in 2019.
The aviation industry will be propped up by both domestic and foreign tourism development programmes, while airlines’ study to open new air routes is a good chance to develop the market, the CAAV said.
However, the sector may experience formidable challenges that could stifle its recovery, including high fuel prices, escalating military conflicts in several countries, shortage of high-quality human resources and US aerospace manufacturer Pratt & Whitney’s recall of airplane engines.
The CAAV described aviation infrastructure lagging behind travel growth as another challenge to the sector’s recovery progress in 2024.
With a view to supporting airlines, the CAAV will continue keeping a close watch on the market demand, and join hands with competent agencies in the sector to pen timely and rational measures.
It will recommend the Government to cut several taxes and service prices and provide aviation enterprises with interest꧑ rate support policies while creating favourable conditions for airlines to improve operatio🌳n capacity.
The Vietnamese aviation sector is poised for full recovery by the end of this year. (Photo: VietnamPlus)
Additionally, it will effectively carry out the approved planning project, upgrade aviation infrastructure, particularly at the Noi Bai International Airport and Tan Son Nhat International Airport, while speeding up construction at Long Thanh International Airport.
Im💟proving management and operation capacity at airports will be paid due🦹 regard to better serve travel demands.
According to the International Air Transport Association, the global aviation market will enjoy full recovery by the end of this year. Although the Asia-Pacific region is seeing the slowest recovery, it is predicted to swing from a loss for years to a net profit of 1.1 billion USD this year.
The industry’s revenues are expected to hit an historic high of 964 billion USD, with passeng🎶er revenues reaching 717 billion USD, up 12% year-on-year./.
