Viet Nam's fledgling airline industry is booming with fleet expansions, new routes and planned share offers that are set to make it one of the world's three fastest growing markets, said an article produced by Reuters on October 21.
The article stresses that even as the local economy chugs along at about 5% growth, demand for domestic air travel is growing by double digits. The nation's Aviation Department expects 15% growth in domestic passengers this year, more than double last year's 7% rise.
Viet Nam's carriers will boost their fleets in the next few years, doubling or tripling them to serve a domestic market of 90 million people and tourist arrivals growing on average 20% annually.
VietJet Aviation Joint Stock Co, Viet Nam's first private airline, agreed last month to a provisional order for up to 92 Airbus jets worth US$9 billion at list prices.
VietJet plans to double its fleet by 2015 to 20 jets, and is speeding up work to get three joint ventures in the air to operate in early 2014.
The article also refers to Viet Nam’s potentials with 1,650 kilometers (1,025 miles) in length.
Visitors from Japan, the Republic of Korea, Hong Kong, Thailand and China are on the rise, with 5.5 million in the first nine months of the year, a 10% rise from the same period in 2012./.