The Ministry of Finance responds to the adjustment of ceiling price of air tickets

The increase in the ceiling price and the price floor of the air ticket are just a proposed plan of Vietnam Airlines. Source: Internet

According to the Ministry of Finance, the authority to regulate the price bracket for domestic air transport services is specified in Clause 27, Article 1 of the Law amending and supplementing the Vietnam Civil Aviation Law No. 61/2014/QH13 dated November 21, 2014. Accordingly, airlines decide the price of domestic air transport services in a price bracket set by the Ministry of Transport and declare the price to the Ministry of Transport.

On this basis, consideration for adjusting the price bracket (including prices ceiling and floor) of domestic air transport services is under the authority of the Ministry of Transport.

Along with that, the valuation is based on the principle that actual production and business costs are offset reasonably and appropriately with the market price level and socio-economic development of the State in each period. At the same time, promptly adjusting prices when factors for price formation change.

The Ministry of Finance said the increase in the ceiling price and the price floor of the air tickets are just a proposed plan of Vietnam Airlines. Considering the adjustment of the ceiling of price bracket of air tickets, the State management authority will have to carefully consider based on the principle of publicity, transparency and review each reasonable and valid cost factor that constitutes the air ticket price in accordance with the provisions of law, at the same time, calculate the appropriate level and timing of adjustment, to ensure compliance with the policy of macroeconomic stability, average inflation control; harmonising the interests of the people, businesses and the State.