VIETNAM BUSINESS NEWS APRIL 25

Vietnamese aviation has huge room for expansion Vietnam's aviation market boasts huge potential for expansion. Illustration image The Airports Corporation of Vietnam (ACV) has invested heavily in airport infrastructure development as Vietnam's aviation market boasts huge potential for expansion, according to an official from the corporation. Deputy head of ACV's business and market development board Nguyen Quoc Hung said that more than 25 trillion VND (over 1 billion USD) has been poured into expanding infrastructure over the last five years to better serve the growth being seen in passenger and cargo traffic. "During 2021-2025, ACV will need around 120 trillion VND to complete infrastructure," he added. Vietnam's air transportation market recorded substantial development during 2012-2019, he said, from infrastructure to aircraft fleets and flight networks, adding that air passenger and cargo traffic surged by an average of 17 and 13 percent, respectively, in the period. COVID-19 wreaked havoc on the sector, however, with passenger numbers falling 41 percent last year against 2019 and air freight 8 percent. International goods accounted for 80 percent of total air freight, but Vietnamese carriers only account for a market share of 12 percent. According to Hung, Vietnam's air transport industry has huge potential to… Read full this story

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