So far this year, the market has grown by 3% compared to 2019. Vietnamese airlines hold a 44% market share in international passenger traffic, with an average seat utilisation rate of over 77%.
As per the 2024 summer schedule, 63 foreign and four Vietnamese carriers have fully restored their international routes as in the pre-pandemic period. Moreover, they are working to expand into new markets in Central Asia, India, and Australia.
The Republic of Korea with 5.3 million passengers remained their most important market in the first half, followed by China with 2.5 million passengers.
For 2024, the CAAV has set targets to transport 78.3 million passengers, including 43.5 million foreigners, and 1.21 million tonnes of cargo, up 7.7% and 13.4% year-on-year, respectively.
Information from the conference also indicated that airlines are currently facing difficulties due to a shortage of operational aircraft. National flag carrier Vietnam Airlines, for instance, has had to temporarily ground 12 A321NEOs and two A350s due to engine problems.
By the end of 2024, an additional 17 A321NEOs and 3-5 A350s are expected to be impacted by engine recall orders. The extended maintenance process for these engines now lasts up to 300 days, nearly triple the previous duration, indicating that aircraft shortages may persist into the first half of 2025. Airlines are actively collaborating with manufacturers to devise solutions for these challenges.
