Vietnam's aviation market is recovering despite ups and downs

During the holidays (February 8 to 14), international passenger traffic amounted to about 748,600, a figure 54 percent higher than what was achieved in the same period of 2023, the Civil Aviation Authority of Vietnam (CAAV, its abbreviation in English) reported.

However, national passenger transport showed a year-on-year decline of 13.2 percentage points, bringing total passengers to 762 million 400 thousand passengers. However, overall transport of holidaymakers by plane rose by 11 percent year-on-year.

On the other hand, according to the same source, although the total number of take-offs and landings at Vietnamese airports during Tet celebrations exceeded 14,500, the number was 0.7 percent lower than the same period in 2023.

The authority indicated in the information published on its website that, like every year, air passenger and cargo transportation activities began to increase as of February 1, 2024.

He explained that during the first four days of this February, unusual weather developments occurred in the northern region due to fog and low clouds, and despite this, the negative effects on aviation operations were reduced.

He pointed out that in the following days and during the holiday period, passenger and cargo transportation activities developed smoothly and continuously, without congestion at airports.

At the end of January, CAAV announced that, according to the International Air Transport Association (IATA), the global market for this item will fully recover by the end of 2024, while the Asia-Pacific region can stop losses and achieve profits of about $1.1 billion.

In the case of Vietnam, which was severely affected by Covid-19, the domestic market gained strength last year and grew compared to the pre-pandemic period, but the international market recovered more slowly.

By 2024, demand for air transport in this Indochina country is estimated at 84.2 million passengers, an increase of 15 percent over the previous year and an increase of six percentage points compared to 2019.

It is expected that the movements of domestic passengers will reach about 41.5 million people, an increase of 3.3% compared to 2023 and 11% compared to 2019, while the movements of foreign travelers could reach about 42.7 million people, an increase of 15. 8 and 6.4%, respectively.

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