Full recovery is anticipated in Vietnam’s aviation market in 2024, in line with trends in the Asia-Pacific market, according to the Civil Aviation Authority of Vietnam (CAAV).

The International Air Transport Association (IATA) has forecast that the global aviation market will make a full recovery by the end of this year. Global airlines are estimated to post record revenue of $964 billion.

The Asia-Pacific market is also predicted to recover this year, with profits estimated at $1.1 billion, according to IATA.

Passenger numbers in Vietnam are to reach 84.2 million in 2024, a year-on-year increase of 15 per cent and 6 per cent compared to pre-pandemic 2019, according to the CAAV.

Cargo transport is estimated at 1.16 million tons, a year-on-year rise of 8.5 per cent.

The market is believed to have opportunities to grow under tourism development policies from localities and other countries, creating the necessary conditions to exploit both domestic and foreign air routes.

Vietnamese and international airlines are studying the opening of new routes, offering more opportunities to grow the market, the CAAV said.