Vietnam’s aviation market heats up

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Nguyen Thanh Binh, who works for a construction company in Go Vap district, HCMC, is from Thach That district in Hanoi. She returns to her home village once a year. Previously, she used to take a train or coach. However, it was inconvenient. It took her three days to travel and she could stay home for two days before returning to HCMC.

In recent years, Binh has travelled by air, because tickets are only slightly higher than rail tickets booked several months before the departure day, VND1.5 million vs VND1 million. It takes only two hours to fly from HCMC to Ha Noi.

Air carriers have been expanding their air route networks. (Source: Zing)

Vietnam air carriers have been expanding their air route networks and flight frequency. There are 52 domestic air routes linking Ha Noi, Da Nang and HCMC and 18 local airports, according to Nguoi Dong Hanh.

As for the international market, 63 foreign airlines provide flights to Vietnam.

The number of foreigners traveling to Vietnam by air has bounced back. According to the General Statistics Office (GSO), in the first nine months of 2017, over 8 million travelers returned to Vietnam by air, a growth rate of 31 percent compared with the same period of 2016, accounting for 80 percent of total foreign travelers.

Randy J. Tinseth, vice president of Boeing, said the South East Asian aviation market has been growing rapidly as economic growth has led to high demand for traveling and long-distance transport services.

Boeing estimates that its partners in the region would need 940 wide body aircraft, worth 280 billion USD in the next 20 years.

Vietnam is a market with a high growth rate thanks to the high GDP growth rates in the last 10 years. The number of passengers traveling domestically has increased by 20 percent and abroad by 7 percent.

The strong rise of Vietnam’s economy has also led to higher demand for traveling to Vietnam. This has prompted foreign airlines to open air routes to Vietnam.

Air Seoul Inc, a subsidiary providing budget airlines, belonging to Asiana Airlines opened a new air route to Da Nang City, Vietnam last May. Six South Korean air carriers are providing flights to the city, which attracts 500,000 South Korean travelers each year.

Meanwhile, Edelwiss from Switzerland in late May announced it will officially provide direct flights between Zurich and HCMC, commencing from November 15, 2018.

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