The fleets of some Vietnamese airlines are likely to shrink in 2024 and 2025, thus subsequently affecting their transportation capacity on domestic and international routes, said the Civil Aviation Authority of Vietnam (CAAV).

Air carriers said they are prepared for busy end-of-year holiday travel as the 2024 Lunar New Year (Tết) approaches.

Deputy Prime Minister Le Minh Khai has requested six ministries and agencies to act within their jurisdiction to urgently handle proposals by Bamboo Airways to help save the air carrier.

The Government Office announced the conclusion of Lê Minh Khái, Deputy Prime Minister, at the meeting on handling petitions from Bamboo Airways.

The Ministry of Transport has issued a circular which will increase ceiling airfares for domestic routes from March 1, 2024, after the peak travel time of Lunar New Year holidays.

Vietnamese airlines have enjoyed better business results on the back of the tourism sector’s strong recovery. However, high oil prices and fierce competition from foreign competitors are among the grave concerns for domestic carriers.

Domestic airlines in Vietnam have experienced a decline in the on-time performance (OTP) during the first 10 months of this year, with only two airlines maintaining OTP rates above 90%, compared to four airlines in the previous year.

The slow recovery of the global aviation market and sliding regional demand for air travel could prolong the path to recovery for local airlines.

Slower recovery in international markets and lower demand in domestic air travel have been hindering the recovery of Vietnam's airline industry, said industry insiders and policymakers.

Vietnamese airlines registered an on-time performance (OTP) of 85 per cent in January – September, lower than the 87.8 per cent rate in the same period last year, according to the Civil Aviation Authority of Vietnam.

Mekong Aviation JSC stopped flying 10 years ago and left the market, but it still must pay VND5.5 billion it owes to Saigon Ground Service (SGN) as per the request of the Phu Quoc City Civil Judgment Execution Sub-department.

Vietnamese airlines’ on-time performance (OTP) reached 88.3% in the first five months of this year, down 2 percentage points year-on-year, reported the Civil Aviation Authority of Vietnam (CAAV).

Representatives of airlines said that the enterprises are facing difficulties, especially in proposing slot allocations at airports in foreign countries after the Covid-19 pandemic.

Aviation enterprises now have a great opportunity to increase revenue as China has put Viet Nam on a pilot list to open to group tours from March 15.

Airlines in Vietnam need new investors to improve their financial position after three years of the pandemic.

Deputy Minister of Transport Le Anh Tuan has requested the Civil Aviation Administration of Vietnam (CAAV) to review the licenses of air transport businesses in Vietnam.

The on-time performance (OTP) of Vietnamese airlines stood at 95.3% in January, down 0.9 percentage points from the previous month, while the number of flights increased 15.6%, said the Civil Aviation Authority of Vietnam (CAAV).

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

The Ministry of Transport (MoT) has asked the Prime Minister to allow the ministry to grant a licence in aviation cargo transportation for IPP Air Cargo Joint Stock Company – the first cargo airline in Vietnam.