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Vietnam airline market takes off 2010-03-14 - TN
Economic recovery is set to spark demand, competition and reasonable fares on
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“Airlines expect the market to recover in both passenger and cargo services with support from the economic growth predicted around the globe,” said Cuong. Cuong said the market was estimated to grow 10 to 15 percent, double national economic growth estimates of 6.5 percent this year. It grew 8.4 percent last year, he said. Viva Macau Airlines was the first carrier to expand its services in JetstarAirAsia, the world’s first low-cost carrier alliance, said it would nearly double its flights between Vietnam Airlines has also opened its two latest routes linking Vietnam Airlines aims to serve 11 million passengers this year to earn VND32 trillion, or US$1.68 billion, in revenues, a rise of 18 and 30 percent respectively. Do Anh Tuan, managing director of Trai Thien Air Cargo, said sales on There would be more competition between passenger and cargo carriers along main routes to attract customers and prices would be fairer, said Tuan whose optimistic prediction was that the market would grow 20 to 25 percent this year. Also in May, Hong Kong Airlines and Malaysia-based Neptune Air are also scheduled to increase their passenger and cargo flights to HCMC and CAAV said Cargolux wanted to expand to Vu Duc Bien, business and commerce manager at Vietnam Air Services Company, or Vasco, said demand from businesses would grow as they scout for international opportunities in the coming years. He said economic recovery would no doubt boost this demand. Bien predicted that the market for charter flights for geographic and oil surveyors and researchers would also develop, saying that such services would increase by 30 percent this year compared to zero growth last year due to the crisis. Vasco, a unit of Vietnam Airlines, operates in passenger short-haul flights and services for businesses. No new carriers permitted until 2012 Cuong from the administration said the government would not issue new licenses for passenger and cargo carriers to operate domestic flights until 2012 in compliance with a government strategy that aims to support those already in the business. The administration approved AirAsia’s acquisition of a 30 percent stake in VietJet Air last month, allowing the Vietnam-based joint venture to provide domestic and international low-cost flights in May. The move came after Australian low-cost Jetstar got approval from the government to acquire a 27 percent stake in Jetstar Pacific. Losses and spiraling debt forced Indochina Airlines to suspend its services last year. The newest airline has two and a half months to reopen with a certificate from the administration or stay closed forever. The government has also recently approved the establishment of a new airline named VietAir Airlines Joint Stock Co, under a proposal by Vietnam Airlines. |
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