Local aviation companies are continuing to face a challenging time ahead. Vietnam's aviation industry is predicted to take three years to return to the pre-Covid level of 2019, according to Deputy Head of the Civil Aviation Authority of Vietnam (CAAV) Pham Van Hao. The International Civil Aviation Organization forecasts two scenarios for the world's aviation industry. Photo the courtesy of Vietnam Airlines There were two scenarios forecast by the International Civil Aviation Organization (ICAO) for the world's aviation industry, Mr. Hao said at the national conference under the theme "Overcoming crisis, developing Vietnam’s aviation sustainably" held recently in Hanoi. In the first scenario, the aviation industry will take a V-shaped recovery, plunging to the bottom and then rebounding strongly. In the second scenario, it will be a U-shape convalescence, in which the industry will sink to the bottom and remain there for 3-5 months, along with economic downturn. As a result, the aviation market will decline 48-71% depending on the situation of the pandemic. Mr. Hao predicted that the first scenario will happen to Vietnam aviation. The CAAV, after consulting market research firms, will submit the schedule on reopening borders for international flights to the government. The reopening, however, would… Read full this story
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