Northeast Asian markets such as China, Japan, Taiwan and South Korea make up a significant source of revenue for Vietnamese airlines. The Civil Aviation Authority of Vietnam (CAAV) has estimated the Covid-19 epidemic would cause a decline of 15% year-on-year in the number of air passengers and a loss of VND25 trillion (US$1.08 billion) in revenue to local airlines, VnExpress reported. At a meeting on February 27, CAAV Director Dinh Viet Thang said the agency has envisioned two scenarios for Vietnam's aviation market in 2020 under the impact of the Covid-19 epidemic. In the first scenario where the epidemic is contained before April, airlines in Vietnam would handle a total of 67 million passengers, down 15% year-on-year, including 32 million foreign and 35 million domestic passengers. However, if the epidemic could only be controlled in June, air passengers are predicted to fall 22% year-on-year to a total of 61 million, including 10 million foreign passengers. Flag carrier Vietnam Airlines expected the number of passengers to decline 2.5 million this year, leading to a decrease of VND12 trillion (US$519 million) in revenue. In addition to a plunge in the number of Chinese passengers, Vietnam Airlines is facing a decline in the… Read full this story
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