INDUSTRIES & MARKETS

Aviation industry in Vietnam

 Table of Contents

01 Overview Airline market share Vietnam 2021-2022 20

Airlines with the most flights Vietnam 2021 21
Estimated domestic air passenger traffic ASEAN 2011-2020, by country 03
Punctuality of airlines Vietnam 2021- 4M 2022 22
Number of international airports ASEAN 2020, by country 04
Vietnam Airlines annual net revenue FY 2013-FY 2022 23
Number of carried passenger in Vietnam 2016-2022, by type of transport 05
Vietnam Airlines total number of flights 2013-2022 24
Passenger traffic in Vietnam 2016-2022, by type of transport 06
Vietnam Airlines number of airplanes in operation 2022 25
Freight traffic in Vietnam 2016-2022, by type of transport 07
Vietjet Air net revenue FY 2018-FY 2022 26

02 Passenger transport Number of airplanes of Vietjet Air 2012-2022 27

Air passengers annual growth rate Vietnam 2015-4M 2022 09

05 Airports
Number of air passengers Vietnam 2015-4M 2022 10
Number of airports belonging to AVC Vietnam 2021, by type 29
Number of air passengers Vietnam 4M 2022, by type 11
Number of passengers at AVC airports Vietnam 2021, by type 30
Vietnam Airlines number of carried passengers FY 2013-FY 2022 12
Number of takeoffs and landings at AVC airports Vietnam 2021, by type 31

03 Freight transport Daily average passengers at Noi Bai Airport Vietnam 2022, by type 32
Daily average flights at Noi Bai Airport Vietnam 2022, by type 33
Airway freight traffic in Vietnam 2012-2022 14
Volume of freight carried via air transport Vietnam 2011-2022 15
SCSC's cargo output volume 2014-2022 16
SCSC's domestic cargo output volume 2014-2022 17
Vietnam Airlines freight volume 2018-2022 18

04 Leading airlines

1
CHAPTER 01

Overview
 Estimated number of domestic air passengers in Southeast Asia from 2011
to 2020, by country (in millions)
Estimated domestic air passenger traffic ASEAN 2011-2020, by country

Cambodia Indonesia Laos Malaysia Myanmar Philippines Thailand Vietnam

120

101.96
96.89
100
Number of aiir passengers in millions

83.31
79.19 79.47
75.77 76.5 76.63 75.88
80 71.42 72.24
70.66

60.2 62.62
59.28
60 55.52
50.26 51.53
49.74 50.19
45.93 48.1
47.97
43.19 42.98
42.59 45.1 44.18
41.32 41.78 41.7 42
37.85 36.33
35.63 37.45 35.44
40 34.24 32.94
31.7 31.11
27.88
21.26
17.16 17.24
20 11.92 12.16 14.3 12.57

1.38 1.6 1.78 1.97

0.51 2.1
0.5 2.35
0.51 2.89
0.81
0.57 2.82
1.01
0.64 2.98
1.16
0.7 1.32
0.68
0.31
0.14 0.46
0.17 0.45
0.21 0.3 0.44 0.42 0.26
0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020

3 Description: In 2020, there were approximately 35.44 million domestic air passengers in Indonesia, representing a significant decrease from around 79.47 million passengers in the previous year. The decreases in domestic air passengers across all surveyed ASEAN
countries can be attributed to travel restrictions after the outbreak of the coronavirus (COVID-19) pandemic. Read more
Note(s): Asia; 2011 to 2020
Source(s): ASEAN
 Number of international airports in Southeast Asia in 2020, by country
Number of international airports ASEAN 2020, by country

Number of airports
0 5 10 15 20 25 30 35 40

Indonesia 34

Vietnam 9

Philippines 8

Thailand 7

Malaysia 6

Lao PDR 4

Myanmar 3

Cambodia 3

Singapore 2

Brunei 1

4 Description: As of 2020, there were 34 international airports in Indonesia, the highest number of international airports among the selected Southeast Asian countries. Indonesia also had the biggest number of domestic airports in ASEAN countries that year. Read
more
Note(s): Asia; 2020
Source(s): ASEAN
 Number of carried passengers in Vietnam from 2016 to 2022, by type of
transport (in millions)
Number of carried passenger in Vietnam 2016-2022, by type of transport

Road Waterway Aviation Railway

6,000

5,000
Number of passengers in millions

4,000

3,000

2,000

1,000

0
2016 2017 2018 2019 2020 2021 2022*

5 Description: In 2022, around 3.7 billion passengers were carried via road transportation in Vietnam. The number of passengers via all means of transportation increased significantly compared to the previous year in the country after recovering from the impact of the
COVID-19 pandemic. Read more
Note(s): Vietnam; 2016 to 2022; * Preliminary figure. Figures have been rounded. Read more
Source(s): General Statistics Office of Vietnam
 Passenger traffic in Vietnam from 2016 to 2022, by type of transport (in
billion person-kilometers)
Passenger traffic in Vietnam 2016-2022, by type of transport

Road Aviation Railway Waterway

250
Passenger traffic in billion person-kilometers

200

150

100

50

0
2016 2017 2018 2019 2020 2021 2022*

6 Description: In Vietnam, road transportation accounted for most of the passenger traffic with about 123.5 billion person-kilometers, followed by aviation, waterway transport and railway in 2022. In that year, the number of passengers carried via road transport
reached about 3.7 billion. Read more
Note(s): Vietnam; 2016 to 2022; * Preliminary figure. Figures have been rounded. Read more
Source(s): General Statistics Office of Vietnam
 Freight traffic in Vietnam from 2016 to 2022, by type of transport (in billion
metric ton-kilometers)
Freight traffic in Vietnam 2016-2022, by type of transport

Aviation Maritime Road Inland waterway Railway

350

300
Freight traffic in billion ton-kilometers

250

200

150

100

50

0
2016 2017 2018 2019 2020 2021 2022*

7 Description: In Vietnam, maritime transportation accounted for most of the freight traffic with about 89.9 billion metric ton-kilometers, followed by road transport, inland waterway transport and railway transport in 2022. In that year, the highest volume of freight was
carried via road transport. Read more
Note(s): Vietnam; 2016 to 2022; * Preliminary figure. Figures have been rounded. Read more
Source(s): General Statistics Office of Vietnam
CHAPTER 02

Passenger transport
 Year-on-year growth rate of number of passengers carried by airway in
Vietnam from 2015 to the first 4 months of 2022 (in millions)
Air passengers annual growth rate Vietnam 2015-4M 2022

120%

96%
100%

80%

60%
Annual growth rate

40%
25%
20% 14% 15%
6%
0%

-20%

-40%
-43%
-60%
-57%
-80%
2016 2017 2018 2019 2020 2021 4M 2022*

9 Description: In the first four months of 2022, the number of passengers traveling with airlines in Vietnam increased by 25 percent in comparison to the same period of 2021. The number of airway passengers in the country decreased by almost 60 percent in 2021 due
to the impact of the COVID-19 pandemic. Read more
Note(s): Vietnam; 2015 to 4M 2022; *Compared to the same period in the previous year, Read more
Source(s): Civil Aviation Authority of Viet Nam; CSI Securities
 Number of passengers carried by airway in Vietnam from 2015 to the first
4 months of 2022 (in millions)
Number of air passengers Vietnam 2015-4M 2022

60 56.52

49.08
50
46.39
Number of passengers in millions

40.52
40

32.34

30

20.65
20
14.02 14.47

10

0
2015 2016 2017 2018 2019 2020 2021 4M 2022

10 Description: In the first four months of 2022, the number of passengers traveling with airlines in Vietnam reached over 14.4 million, surpassing that of the previous year. In 2021, the COVID-19 pandemic and its related restrictions on travel negatively impacted the
Vietnamese aviation industry. Read more
Note(s): Vietnam; 2015 to 4M 2022
Source(s): Civil Aviation Authority of Viet Nam; CSI Securities
 Number of domestic versus international passengers carried by airway in
Vietnam in the first 4 months of 2022 (in 1,000s)
Number of air passengers Vietnam 4M 2022, by type

16,000
14,301
14,000
Number of passengers in thousands

12,000

10,000

8,000

6,000

4,000

2,000
170
0
Domestic International

11 Description: In the first four months of 2022, the number of domestic passengers traveling with airlines in Vietnam reached over 14.3 million. Meanwhile, the number of air passengers from abroad was much lower, at around 170 thousand passengers. Read more
Note(s): Vietnam; 4M 2022
Source(s): Civil Aviation Authority of Viet Nam; CSI Securities; General Statistics Office of Vietnam
 Number of carried passengers of Vietnam Airlines from financial year 2013
to 2022 (in millions)
Vietnam Airlines number of carried passengers FY 2013-FY 2022

25
22.9
21.9 21.9
20.7
Number of carried passengers in millions

20
18.2
17.4
15.75
15
15 14.1

10

6.1

0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

12 Description: In the financial year 2022, the number of carried passengers of Vietnam Airlines amounted to approximately 18.2 million, indicating a threefold increase compared to the previous year. Vietnam Airlines is a state-owned enterprise and is among Southeast
Asia's leading airline groups. Read more
Note(s): Vietnam; FY2013 to FY2022
Source(s): Vietnam Airlines
CHAPTER 03

Freight transport
 Freight traffic via airway in Vietnam from 2012 to 2022 (in billion metric
ton-kilometers)
Airway freight traffic in Vietnam 2012-2022

16

14
Freight traffic in billion ton-kilometers

12

10

0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022*

14 Description: In Vietnam, freight traffic via airway reached 6.09 billion metric ton-kilometers in 2022. In that year, the highest volume of freight was carried via road transport in the country. Read more
Note(s): Vietnam; 2012 to 2022; * Preliminary figure. Figures have been rounded. Read more
Source(s): General Statistics Office of Vietnam
 Volume of freight carried via aviation in Vietnam from 2011 to 2022 (in
thousand metric tons)
Volume of freight carried via air transport Vietnam 2011-2022

500

450
Volume of freight in thousand metric tons

400

350

300

250
446.4
200 404.4

150 317.9
285.6 272.4 283.9 281.9
229.6
100 200.3 191 183.7 202

50

0
2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022*

15 Description: In 2022, the total volume of freight carried via air transport in Vietnam reached around 281.9 thousand metric tons. The majority of freight in Vietnam was carried via road transportation, followed by water transport, railway, and aviation. Read more
Note(s): Vietnam; 2011 to 2022; * Preliminary figure. Figures have been rounded. Read more
Source(s): General Statistics Office of Vietnam
 Total cargo output volume of Saigon Cargo Service Corporation from 2014
to 2022 (in 1,000 metric tons)
SCSC's cargo output volume 2014-2022

250
227.94
218.45 220.97
210.1
204.94
200 186.14
Volume in thousand metric tons

162.9

150

117.12
100.84
100

50

0
2014 2015 2016 2017 2018 2019 2020 2021 2022

16 Description: In 2022, Saigon Cargo Service's volume of total cargo output amounted to approximately 221 thousand metric tons. The Vietnamese company specializes in catering for air cargo service requirements. Read more
Note(s): Asia, Vietnam; 2014 to 2022
Source(s): Sai Gon Cargo Service Company
 Domestic cargo output volume of Saigon Cargo Service Corporation from
2014 to 2022 (in 1,000 metric tons)
SCSC's domestic cargo output volume 2014-2022

60
55.62
52.16 53.1
48.82
50
44.43
Volume in thousand metric tons

42.23

40
35.12
33.2

30 28.48

20

10

0
2014 2015 2016 2017 2018 2019 2020 2021 2022

17 Description: In 2022, Saigon Cargo Service's volume of domestic cargo output amounted to approximately 44.4 thousand metric tons. The Vietnamese company specializes in catering for air cargo service requirements. Read more
Note(s): Asia, Vietnam; 2014 to 2022
Source(s): Sai Gon Cargo Service Company
 Volume of freight carried by Vietnam Airlines from 2018 to 2022 (in 1,000
metric tons)
Vietnam Airlines freight volume 2018-2022

400

341.59 347.01
350
Freight volume in thousand metric tons

300

250
219.85 213.88
195.95
200

150

100

50

0
2018 2019 2020 2021 2022

18 Description: In 2022, around 213.8 thousand metric tons of freight were transported by Vietnam Airlines, indicating a slight decline compared to the year prior. Vietnam Airlines is a state-owned enterprise and is among Southeast Asia's leading airline groups. Read
more
Note(s): Vietnam; 2018 to 2022; including VNA and VASCO
Source(s): Vietnam Airlines
CHAPTER 04

Leading airlines
 Aviation market share based on number of flights in Vietnam from 2021 to
the first 4 months of 2022
Airline market share Vietnam 2021-2022

Market share

4M 2022 2021

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%

40%
Vietnam Airlines
39%

34%
Vietjet
32%

18%
Bamboo Airways
20%

4%
Jetstar Pacific
6%

3%
VASCO
2%

20 Description: n the first four months of 2022, Vietnam Airlines held around 40 percent of the aviation market in Vietnam, based on the number of flights. The airline is the flag carrier of Vietnam, while the rest of the airlines mentioned are from the private sector. Read
more
Note(s): Vietnam; 2021 to 4M 2022
Source(s): Civil Aviation Authority of Viet Nam; CSI Securities; General Statistics Office of Vietnam
 Leading airlines based on the number of flights in Vietnam in 2021 (in
1,000s)
Airlines with the most flights Vietnam 2021

Number of flights in thousands

0 5 10 15 20 25 30 35 40 45 50 55

Vietnam Airlines 49.27

Vietjet Air 40.68

Bamboo Airways 24.82

Jetstar Pacific 7.08

VASCO 3.09

21 Description: In 2021, Vietnam Airlines was the leading aviation company in Vietnam, with over 49 thousand flights carried out that year. Vietjet Air operated approximately 40.7 flights in the same year, making it the carrier with the second-highest number of flights.
Read more
Note(s): Vietnam; 2021
Source(s): Civil Aviation Authority of Viet Nam; CSI Securities
 Most punctual airlines based on on-time takeoff performance in Vietnam
from 2021 to the first 4 months of 2022
Punctuality of airlines Vietnam 2021- 4M 2022

Share of flights taking off on time

4M 2022 2021

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110%

96.9%
Bamboo Airways
96.9%

93.4%
Jetstar Pacific
92.9%

92.4%
VASCO
92.8%

89.1%
Vietjet
93.5%

87.9%
Vietnam Airlines
95%

22 Description: In the first four months of 2022, Bamboo Airways was the most punctual airline in Vietnam, with the share of flights taking off on time reaching almost 97 percent. Vietnam Airlines had the worst punctuality performance in the same period despite being
one of the most punctual airlines in 2021. Read more
Note(s): Vietnam; 2021 to 4M 2022
Source(s): Civil Aviation Authority of Viet Nam; CSI Securities; General Statistics Office of Vietnam
 Annual net revenue of Vietnam Airlines from financial year 2013 to 2022
(in trillion Vietnamese dong)
Vietnam Airlines annual net revenue FY 2013-FY 2022

120

96.81 98.23
100
Net revenue in trillion Vietnamese dong

82.95
80
68.86 69.03 70.09
65.94

60
48.92

40
30.47

18.31
20

0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

23 Description: In the financial year 2022, Vietnam Airlines generated a net revenue of approximately 48.9 trillion Vietnamese dong, indicating a drastic increase compared to the year prior. Vietnam Airlines' net revenue has shown signs of recovery after the impact of the
COVID-19 pandemic. Read more
Note(s): Vietnam; FY2013 to FY2022
Source(s): Vietnam Airlines
 Total number of flights of Vietnam Airlines from 2013 to 2022 (in 1,000s)
Vietnam Airlines total number of flights 2013-2022

160
146.2
141.7 141.3 141
140 131.2
122.8
118.39
120 113.85
Number of flights in thousands

100 95.8

80

60 53.23

40

20

0
2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

24 Description: In 2022, the number of total flights of Vietnam Airlines amounted to approximately 141 thousand, indicating a significant increase compared to previous year. Vietnam Airlines is a state-owned enterprise and is among Southeast Asia's leading airline
groups. Read more
Note(s): Vietnam; 2013 to 2022
Source(s): Vietnam Airlines
 Number of aircraft in operation of Vietnam Airlines as of December 2022
Vietnam Airlines number of airplanes in operation 2022

Number of airplanes
0 20 40 60 80 100 120

A321CEO 46

A321NEO 20

A350-900 14

B787-9 11

ATR72-500 6

B787-10 4

Total 101

25 Description: In 2022, Vietnam Airlines operated around 46 Airbus A321CEO aircrafts, which accounted for almost half of its total 101 fleet. Vietnam Airlines is a state-owned enterprise and is among Southeast Asia's leading airline groups. Read more
Note(s): Vietnam; December 2022
Source(s): Vietnam Airlines
 Consolidated net revenue of Vietjet Air from financial year 2018 to 2022 (in
trillion Vietnamese dong)
Vietjet Air net revenue FY 2018-FY 2022

60
53.58
50.6
50
Revenue in trillion Vietnamese dong

40.14
40

30

20 18.22

12.88

10

0
2018 2019 2020 2021 2022

26 Description: In the financial year 2022, Vietjet Air recorded a consolidated net revenue of over 40 trillion Vietnamese dong, indicating a three-fold increase compared to the year prior. Vietjet Air is a budget airline operating in Vietnam. Read more
Note(s): Vietnam; FY2018 to FY2022
Source(s): VietJet Air
 Number of aircraft in operation of Vietjet Air from 2012 to 2022
Number of airplanes of Vietjet Air 2012-2022

90

80 78
76 75
74
71
70

60
Number of aircraft

52
50
41
40
30
30

20 18

9
10
4

0
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

27 Description: In 2022, Vietjet Air operated 75 aircraft, one less compared to that of 2022. Vietjet Air is a budget airline operating in Vietnam. Read more
Note(s): Vietnam; 2012 to 2022
Source(s): VietJet Air
CHAPTER 05

Airports
 Number of airports operated by Airports Corporation of Vietnam (AVC) in
2021, by type
Number of airports belonging to AVC Vietnam 2021, by type

14
13

12

10
9
Number of airports

0
International Domestic

29 Description: In 2021, Airports Corporation of Vietnam (AVC) operated 13 domestic airports. AVC is a joint-stock company with the largest shareholder being the Vietnamese government, operating most airports in the country. Read more
Note(s): Vietnam; 2021
Source(s): Airports Corporation of Vietnam
 Number of passengers using airports operated by Airports Corporation of
Vietnam (AVC) in 2021, by type (in millions)
Number of passengers at AVC airports Vietnam 2021, by type

35

29.5 30
30
Number of passengers in million

25

20

15

10

0.5
0
International Domestic Total

30 Description: In 2021, Airports Corporation of Vietnam (AVC) airports received around 29.5 million domestic passengers. In total, the number of airway passengers at these airports amounted to 30 million that year. Read more
Note(s): Vietnam; 2021
Source(s): Airports Corporation of Vietnam
 Number of takeoffs and landings at airports operated by Airports
Corporation of Vietnam (AVC) in 2021, by type
Number of takeoffs and landings at AVC airports Vietnam 2021, by type

350

300 291
Number of takeoffs and landings

250 234

200

150

100

57
50

0
International Domestic Total

31 Description: In 2021, Airports Corporation of Vietnam (AVC) airports in Vietnam recorded only 57 takeoffs and landings from international flights. In that year, Vietnam was closed to international tourists, leading to a low number of flights coming in and to the country
compared to pre-COVID-19 pandemic level. Read more
Note(s): Vietnam; 2021
Source(s): Airports Corporation of Vietnam
 Daily average number of passengers at Noi Bai International Airport in
Vietnam as of June 2022, by type (in 1,000s)
Daily average passengers at Noi Bai Airport Vietnam 2022, by type

100
89
90
80
80
Number of passengers in thousands

70

60

50

40

30

20
9
10

0
Domestic passengers International passengers Total

32 Description: As of June 2022, there were around 80 thousand domestic passengers daily at Noi Bai International Airport in Vietnam. In total, the average number of passengers at this airport reached 89 thousand per day in this period. Read more
Note(s): Vietnam
Source(s): Website
 Daily average number of flights at Noi Bai International Airport in Vietnam
as of June 2022, by type
Daily average flights at Noi Bai Airport Vietnam 2022, by type

600 565

500
450

400
Number of flights

300

200

115
100

0
Domestic flights International flights Total

33 Description: As of June 2022, there were around 450 domestic flights daily at Noi Bai International Airport in Vietnam. In total, the average number of passengers at this airport reached 89 thousand per day in this period. Read more
Note(s): Vietnam
Source(s): Website
 Sources

Airports Corporation of Vietnam

ASEAN
CafeF
Civil Aviation Authority of Viet Nam
CSI Securities
General Statistics Office of Vietnam
Sai Gon Cargo Service Company
VietJet Air
Vietnam Airlines
Website
Website (https://vneconomy.vn/)

34