Some Vietnamese tycoons have given up dreams of establishing airlines for a number of reasons.

The total number of air passengers passing through domestic airports will reach 80 per cent of the peak number of passengers in 2019, said Dinh Viet Thang, director of the Civil Aviation Authority of Vietnam (CAAV).

Vietnam’s aviation industry has seen positive changes in domestic transport.

Tycoon Johnathan Hanh Nguyen has withdrawn his application for a business license for his cargo airline IPP Air Cargo.

The Hanoi-Ho Chi Minh City route has ranked fourth among the busiest domestic air routes in the world in 2022, according to Director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang.

After the Prime Minister agrees on the establishment of IPP Air Cargo, the Ministry of Transport (MOT) will implement procedures to grant a license to the air carrier, according to MOT Deputy Minister Le Dinh Tho.

Vietnam ranks No.1 on the list of the 25 countries with the fastest post-pandemic recovery of the domestic aviation market.

Boeing, the world’s leading aerospace company based in the US, are accelerating cooperation with Vietnamese suppliers and universities to provide a foundation for long-term industrial growth.

The Civil Aviation Authority of Vietnam (CAAV) is collecting comments on a draft circular stipulating that all businesses in the sector must have a plan to convert ground vehicles from fossil fuels to electric.

The value of products made in Vietnam for Boeing over the last few years was a relatively modest $200 million, Micheal Vu Nguyen, Boeing Country Director in Vietnam, said at a meeting between the Prime Minister and FIEs held several days ago.

The restoration of flights and increased number of passengers are helping airlines and non-aviation businesses to gradually recover in profit after the pandemic.

Vietnamese airlines are suffering losses amounting to hundreds of billions of VND each month due to a surge in fuel prices, according to director of the Civil Aviation Authority of Vietnam (CAAV) Dinh Viet Thang.

It is not until 2025 that the local aviation sector can fully recover due to rising fuel prices and the slower-than-expected reopening of international markets, according to domestic airlines.

Vietnam needs policies to support and remove difficulties for domestic airlines to regain their growth momentum in the post-COVID recovery period, transport experts said yesterday.

Apart from cutting costs and reducing salaries, many airlines have had to reduce their workforce in the difficult context of the COVID-19 pandemic.

The Airports Council International (ACI) has granted the Certificate of Airport Health Accreditation (AHA) for Noi Bai International Airport of Vietnam.

Private airlines including Vietjet Air and Bamboo Airways struggling to survive are looking forward for a new support package to maintain their operations.

Vietnamese airlines have resumed most domestic flights after the country has gone almost 50 days without community transmission of the coronavirus.

The aerospace component manufacturing plant in the central city of Da Nang has been put into operation. It can provide more than 4,000 components to Boeing.