Aviation market shows signs of slowing: Airports Corporation
The aviation transport market is approaching saturation and showing signs of slowing down after years of high growth, according to the January-May business report of the Airports Corporation of Vietnam.
Passengers wait in front of check-in kiosks at Noi Bai International Airport in Hanoi (Photo: VNA)
Hanoi (VNA) 🧸– The aviation transport market isapproaching saturation and showing signs of slowing down after years of highgrowth, according to the January-May business report of the AirportsCorporation of Vietnam (ACV).
The report said ACV’s airports served more than 46.7 millionpassengers in the period, up 8.7 percent on a yearly basis. The number of domesticpassengers grew by 6.2 percent and that of foreign passengers 13 percent.
The number of landings and takeoffs surged 10.6 percentyear-on-year, higher than target but mainly due to the participation of the newairline - Bamboo Airways.
Airports with good growth in foreign passenger throughput were Noi Bai (13 percent), Da Nang (27 percent), Cam Ranh (26 percent) and Phu Quoc(86 percent). The corporation earned total revenues of more than 8.3trillion VND (over 356.1 million USD) during January-May, meeting 43 percent ofthe yearly target and rising 14.8 percent year-on-year. Pre-tax profit almostreached 3.4 trillion VND. ACV said the growth in revenue was mainly driven byfinancial activities, core business operations such as aviation andnon-aviation services, and goods sales. It said the slowing down in the aviation market,particularly the international segment, is expected to affect the corporationin implementing its yearly plan. Therefore, the ACV plans to take measures topromote business, particularly non-aviation services, according to ACV ChairmanLai Xuan Thanh.-VNA
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Passengers wait in front of check-in kiosks at Noi Bai International Airport in Hanoi (Photo: VNA) 
