Vietnam"s aviation industry posts growth of nearly 42%

The domestic air passenger transport market recorded an annual growth of 41.8% in the first seven months of 2023. (Illustrative image - Source: vneconomy.vn)

The domestic air passenger transport market has experienced a strong recovery, with an annual growth of 41.8% recorded in the first seven months of 2023, announced the Civil Aviation Authority of Vietnam (CAAV).

Accordingly, the total number of passengers carried by six Vietnamese airlines – Vietnam Airlines, Vietjet Air, Bamboo Airways, Pacific Airlines, Vietravel Airlines and Vasco – increased by 20.1%. The volume of foreign passengers flying with the domestic carriers surged by 424.2% year-on-year, while the number of domestic passengers slightly went down by 4.4%.

Between January and July, Bamboo Airways was rated as the most punctual carrier, with an OTP rate of 92.7%, significantly higher than the industry average of 85.4%. It was followed by Vasco with 90%, Vietravel Airlines 86.9%, Vietnam Airlines 86.2%, Pacific Airlines 84.5%, and Vietjet Air 81.7%.

Meanwhile, the sector’s rate of cancelled flights during the period was 0.3%.

Vietnam will have a four-day holidays from September 1-4 to celebrate the country's National Day (September 2), with carriers preparing seat increasing plans and security requested to be tightened at airports, particularly Noi Bai in Hanoi and Tan Son Nhat in Ho Chi Minh City./.