Vietnam Aviation Outlook: GFC hurts export-oriented economy, but full impact cushioned by government

Vietnam’s aviation market is an extremely dynamic and high-potential one. But like most emerging markets, infrastructure issues and the regulatory environment (including rising conservative forces during the economic downturn) are providing some challenges to development. The country’s airlines and airports are planning rapid expansion and development over the next decade or so, with a major expansion opportunity the impending ASEAN Open Skies Agreement. The recent announcement of the entry of an AirAsia JV into the country, as well as Qantas Group’s investment in Vietnam via a Jetstar cross-border JV, means Vietnam aviation is poised for dynamic growth. Indeed, Vietnam could be one of Asia's fastest growing aviation markets over the next few years and the ground lost in the downturn could be quickly made up. [9960 words]

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This report contains the following subheadings:

• PART I: COUNTRY OVERVIEW
• Tough 18 months for Vietnam tourism after a period of rapid expansion
• ASEAN open skies expected in Apr-2010
• Opaque regulatory environment
• PART II: AIRLINES                                  
• 1) AirAsia to join the LCC fold
• 2) Vietnam Airlines defending strong position in the market
• PART III: AIRPORTS
• Outlook: Positioned for growth

This report contains the following charts and tables:

• Key Vietnam economic statistics: 2000 to 2008
• GDP growth rates among selected developing Asia economies: 2006 to 2014F
• Vietnam international tourist arrivals: Q12008 to Q32009
• International Visitor Numbers (Vietnam): 2000 to 2012F 
• Real Travel & Tourism activity growth (% per annum) (Vietnam): 2000 to 2012F
• International visitors by air to Vietnam: Dec-2008 to Dec-2009
• Volume of passengers carried by air transport: 1995 to 2009E
• ASEAN Member States
• Vietnam domestic capacity (seats) share by carrier  (Week commencing 01-Feb-2010)
• Asia Pacific domestic LCC penetration by capacity (seats): 2009    
• Vietnam domestic capacity (seats per month), LCCs as a percentage of the total: 2001 to 2009
• Vietnam international capacity (seats per month), LCCs as a percentage of the total: 2001 to 2009
• Jetstar Pacific route map: 2009
• Jetstar Pacific existing and planned fleet: Feb-2010
• Full details of the AirAsia Vietnam JV: Feb-2010
• Vietnam international capacity (seats) share by carrier (Week commencing 01-Feb-2010)
• Vietnam Airlines international passenger numbers & growth: Nov-2007 to Oct-2009
• Vietnam Airlines existing and planned fleet: Feb-2010
• Fleet plans of select Southeast Asian airlines: Feb-2010
• Vietnam Airlines fleet delivery schedule: Feb-2010
• Vietnam Airlines’ codeshare partners:              
• Vietnam Airlines domestic route map: Feb-2010
• Vietnam Airlines destination map: Feb-2010
• Vietnam Airlines international capacity by country: Feb-2010
• Vietnam Airlines’ subsidiaries and affiliates
• Hanoi Airport and Ho Chi Minh City Airport passenger numbers: 1998 to 2008
• Expansion of Noi Bai and Tan Son Nhat International Airports
• Vietnam airport upgrade details
• New international airports currently under construction in Vietnam