Air Vietnam news on explosive aviation growth

According to Vietnam airlines news, Vietnam is forecasted to become one of the fastest-growing aviation markets in the world.

The young Vietnam aviation industry prepares to enter an explosive growth period, in the background of the competition level between domesticairlines becomes higher through flying team expansion, new route opening and IPO preparation.
According to the figure of Reuters, although Vietnam

Economy is only growing at a rate of about 5 % per year - the slowest in 13 recent years, the air traveling demand is growing with double-digit rate. This means that Vietnam provides new opportunities for many aircraft manufacturers such as Boeing and Airbus, as well as the regional manufacturers such as Mitsubishi Aircraft Corp, Bombardier or Embracer.

At present, Vietnam Airline still has the largest market share in the domestic air market. This national airline will increase the number of aircraft to 101 aircrafts in 2015 and prepare to IPO in 2nd quarter 2014. "IPO plans are on schedule", said Mr. Le Truong Giang, spokesman of VietnamAirways.

The flying team of Vietnam Air now includes Airbus and Boeing aircrafts. The airline has also ordered Boeing 787 Dream liner, Airbus 350 and other aircraft orders through the aircraft leasing companies.

Vietnam Airline has its share in the cheap airline named Jetstar Pacific, a joint venture with Qantas Airways (Australia). A spokesman of Jetstar Pacific said the airline expects to triple its aircraft team, from 5 to 16 Airbus A320 aircrafts in the next few years.

The Vietnam growth potential of aviation market comes from many geographical factors. Vietnam has a length of 1,650 km, the long distance between major cities and tourism places, while road and railway infrastructures are underdeveloped. Meanwhile, passengers need to spend only a few hours of flying from Japan, Korea, Hong kong, Thailand and China to Vietnam. Thus, the number of international visitors to Vietnam are rising sharply, reaching 5.5 million in the first 9 months of this year, 10 % higher than this figure in the same period in 2012.

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