If in the first 10 months of 2022, Vietnam had 4 airlines with an OTP (On-Time Performance) rate above 90%, this year only 2 airlines have maintained this figure.
According to the latest report from the Civil Aviation Authority of Vietnam, in the past 10 months, the entire aviation industry operated a total of 241,177 flights, a decrease of nearly 20,000 flights compared to the same period in 2022.
Vietnam’s aviation industry is going through a difficult period
Despite the reduction in the number of flights, the on-time performance rate did not improve. Out of 241,177 flights, the Civil Aviation Authority recorded 204,816 on-time flights, equivalent to an OTP of 84.9%, a decrease from the average OTP of 89% in the first 10 months of 2022.
Specifically, if in the first 10 months of 2022, the entire aviation industry recognized 4 airlines with an average on-time performance above 90%, namely Bamboo Airways, Pacific Airlines, Vietravel Airlines, and VASCO, and no airline with OTP below 80%, then this year, only 2 airlines maintain an OTP above 90%, namely Bamboo Airways and VASCO.
Among them, Bamboo Airways has the highest on-time performance rate in the entire industry with 92.4% of flights on time; VASCO achieved an OTP of 91%.
Vietnam Airlines, Vietravel Airlines, and Pacific Airlines recorded OTP rates of 86.8%, 86.6%, and 84.4%, respectively. On the other hand, the flight cancellation rate of Vietnamese airlines during this period has decreased compared to the same period last year. In the first 10 months, only 0.3% of flights were canceled, a decrease of 0.1% compared to the same period. VASCO, Vietravel, and Vietnam Airlines had cancellation rates of 0.7%, 0.5%, and 0.4%, respectively. Vietjet Air canceled 0.3% of flights, Bamboo Airways canceled 0.2%, and Pacific Airlines canceled 0.1% of flights.
Currently, the entire aviation industry is focusing its resources on planning to serve passengers during the peak period at the end of the year and the 2024 Lunar New Year. According to many aviation experts, last year, there were 6 airlines operating in the market, creating competition in terms of service and ticket prices. However, this year, due to the difficult economic situation and the lingering effects of the pandemic, many airlines are facing challenges and have to implement restructuring solutions, from changing organizational structures and business plans to reducing flight crews and operating capacity. Therefore, domestic airfare is trending higher, causing concern among the public about the supply of air tickets during the 2024 Lunar New Year of the Water Tiger.
A representative of Bamboo Airways stated that the airline is focusing on restructuring its flight crew, reducing inefficient routes. In the long term, the airline will calculate the suitability of each type of aircraft, ensuring efficiency in operation. During the peak period at the end of this year, the airline will calculate to compete on crowded routes such as Ho Chi Minh City to Hanoi, Thanh Hoa, Da Nang, Nha Trang…
Regarding information on the high-demand service during the 2024 Lunar New Year, aviation authorities state that during the peak period of the 2024 Lunar New Year of the Water Tiger (from January 25 to February 24, 2024, corresponding to the 15th day of the twelfth lunar month to the 15th day of the first lunar month), Vietnamese airlines plan to provide approximately 5.5 million seats on domestic routes, an increase of 4% compared to the 2023 Lunar New Year of the Quy Mao and approximately 2.1 million seats on international routes, an increase of 36.8%.
Compared to the regular winter schedule of 2023 – 2024, the supply load on international and domestic routes is expected to increase by 17% and 69%, respectively. With this supply load, Vietnamese airlines plan to use 213 aircraft.