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Wednesday, June 19, 2024

Airfares stay in permissible range – CAAV

The Saigon Times

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HCMC – Though economy-class airfares on several domestic routes have risen compared to 2023, they are still in the permissible price range, according to the Civil Aviation Authority of Vietnam (CAAV).

On key routes like Hanoi-HCMC, average airfares have picked up against the same period last year at such airlines as Vietnam Airlines, Vietjet Air, Bamboo Airways, and Vietravel Airlines.

According to a report submitted to the Ministry of Transport regarding airfare trends in the first four months of 2024, average fares for the Hanoi-HCMC route ranged from VND1.5 million to VND2.64 million, up by 11% to 25% year-on-year.

Despite these increases, all ticket prices remained within regulated limits, where the price is capped at VND3.4 million, excluding taxes and fees. The report also found price increases on other routes, but all remained within the allowable price frame.

The CAAV attributed the recent surge in airfares during the Reunification Day (April 30) and International Labor Day (May 1) to a significant spike in air travel demand. Early bookings offered lower fares, while last-minute bookings faced higher costs due to limited availability and high demand.

In response to the heightened demand during the recent holiday, domestic airlines notably increased their flight operations. Vietnam Airlines expanded capacity by 22%, operating over 6,000 flights, while Vietjet Air reported a 30% increase versus the same period last year, with around 5,500 flights operated.

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