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Airfares cooled down in June but suddenly increased again at the end of the summer holidays on many routes.
According to a survey, airfares from Hanoi to tourist destinations such as Da Nang, Nha Trang, Phu Quoc, Con Dao... in August all increased again. The increase is from about 500,000 to nearly 2 million VND compared to June.
Specifically, for the Hanoi - Phu Quoc route from now until the end of August, one-way economy class tickets of Vietnam Airlines range from 2.8 - 3.6 million VND/ticket. Ticket prices of Vietravel Airlines and Vietjet Air range from 1.6 - 2.9 million VND, 700,000 - 1.5 million VND higher than in June.
The "hottest" route is still Hanoi - Con Dao (connecting flight), with one-way economy class tickets ranging from 2.4 to 4 million VND, about 1 million VND higher than in June. Accordingly, one-way tickets of VietJet Air, Vietnam Airlines, Vietravel Airlines cost 3.3 - 3.5 million VND (including taxes and fees), an increase of 800 - 1.5 million VND compared to June.
Although airfares have increased, according to an airline leader, because this is the end of the summer vacation, ticket prices have only increased on some specific routes and are still within the regulated ceiling price range.
Meanwhile, according to Associate Professor Dr. Nguyen Thien Tong - an aviation expert - the normal rule of the market is that airfares will decrease at the end of the peak summer tourist season. Especially at this time, airlines have just rented more planes to increase supply, so it is also advisable to calculate a reduction in ticket prices to stimulate people's travel demand in order to exploit all the seats on each flight.
"Ticket prices can be lowered, but if there are few empty seats, each flight will still be profitable," said Mr. Tong.
According to this expert, people's travel needs are currently high, but if airfares are expensive, customers are willing to choose other means of transportation such as private cars, trains, private car rentals, and buses. Except in some cases of force majeure, they are forced to travel by plane.
According to the forecast of the Civil Aviation Authority, the total air transport market in 2024 will reach approximately 78.3 million passengers and 1.21 million tons of cargo, an increase of 7.7% in passengers and 13.4% in cargo compared to 2023, and equivalent to the output levels in 2019.
But by the end of July, the total number of aircraft of Vietnamese airlines granted AOC aircraft operation certificates was 195, a decrease of 36, of which the average number of aircraft in operation was 167, a decrease of 51 compared to the same period last year.
In order to limit the impact of rising airfares, the Civil Aviation Authority requires airlines to develop flexible fare ranges. In addition, it continues to have preferential policies on domestic airfares in accordance with the reality of the air transport market, as well as the needs of people and major tourism and festival programs.
However, the Civil Aviation Authority stated that airlines are offering tickets at prices relatively low compared to the regulated ceiling.
Airlines accelerate aircraft leasing
To cope with the shortage of aircraft, airlines have recently accelerated their hiring of more aircraft.
Accordingly, Vietnam Airlines has just received more Airbus A320Neo and Boeing 787-10 aircraft in July. The airline will add thousands of night flights from 9pm to 5am the next day.
Vietjet also announced an increase of 3,100 flights across its domestic network, equivalent to 1.4 million additional tickets from now until the end of the year.
Pacific Airlines receives another aircraft from Vietnam Airlines. This is the second of three Vietnam Airlines aircraft leased by Pacific Airlines.
Bamboo Airways also "wet leased" 3 Airbus A320 aircraft, bringing the total number of aircraft in operation to 8. The airline plans to continue leasing more to increase its fleet size to 12 aircraft by the end of this year and to 18 by the end of 2025, if market conditions allow.
