Domestic airfares cool down

Domestic airfares are cooling down in March 2024 - Photo: CONG TRUNG

Based on supply and demand trends, many experts predict that airfares will "cool down" until the April 30th and May 1st holidays.

Many flights are offering discounted fares.

According to data from the ticketing systems of five domestic airlines during the period from March to mid-April 2024, airfares are decreasing, with some routes seeing reductions of up to 30-50% compared to the Lunar New Year period. This came as quite a surprise to many customers.

At the end of February 2024, many domestic flights after the Lunar New Year holiday still had high ticket prices, with some routes experiencing ticket shortages.

A survey of airfares for the Hanoi - Ho Chi Minh City, Hai Phong, Vinh, and Nghe An routes to and from Ho Chi Minh City from March to mid-April 2024 shows a significant decrease compared to the Tet holiday period, averaging 2.5 - 4.2 million VND/round-trip ticket (including taxes and fees), while during Tet it reached up to 7 million VND/round-trip ticket.

Flights from central Vietnam, such as Hue, Da Nang, and Chu Lai, to Ho Chi Minh City now cost between 2.5 and 3.6 million VND per round-trip ticket, compared to 4.5 to 7 million VND during Tet (Lunar New Year). Currently, Vietnam Airlines and Vietjet are maintaining a higher frequency of domestic flights with more diverse flight schedules than other airlines.

For popular tourist destinations, airfares are dropping significantly, such as Hanoi - Da Lat, Nha Trang or Ho Chi Minh City - Phu Quoc, Nha Trang. The average round-trip airfare is currently between 2.4 and 3.7 million VND.

After checking prices on various airlines' websites, Ms. My Kieu (Phu Nhuan District, Ho Chi Minh City) booked a flight to Phu Quoc with her group of friends. The departure date is at the end of March.

At 1.9 million VND per person for a round-trip ticket, Ms. My Kieu considers it affordable at this time. "I bought my tickets before the peak holiday season, which was cheaper and more convenient. Hotels and attractions in Phu Quoc are more reasonably priced this season, whereas during the peak period of April 30th-4th or the summer, prices are much higher," Ms. Kieu said.

Airlines lower ticket prices to stimulate demand.

Speaking to Tuoi Tre Online , a representative of an airline said that ticket prices are trending downwards based on market supply and demand after the peak Tet holiday period, as passenger travel demand has cooled down.

It is expected that the period from now until the end of May 2024 (excluding the April 30th and May 1st holidays) will be a low season for domestic air travel. Airlines will continue to stimulate demand and offer reasonable fares to attract passengers. This source also noted that ticket prices will increase from the beginning of June as the peak summer season approaches.

However, many people in the aviation and tourism industries are still concerned that airfares will undergo short-term adjustments, and that the upward trend will quickly return, even during the off-season. This assessment is based on the sharp decline in the number of aircraft currently in operation. Vietnam Airlines and Vietjet have temporarily grounded dozens of Airbus A321 aircraft for engine repairs.

Bamboo Airways CEO Luong Hoai Nam said the airline maintains 8 aircraft and has no plans to add more during the summer. Vietravel Airlines operates 3 aircraft. Notably, Pacific Airlines is facing aircraft return and restructuring, so the airline will experience a severe aircraft shortage from March 15th.

Recently, the Civil Aviation Authority requested domestic airlines to proactively plan their operations and have contingency plans to supplement the number of aircraft needed to compensate for the shortage due to engine repairs.

During this period of fleet fluctuations, aviation authorities have requested airlines to publish daily lists of rescheduled flights so that passengers can plan their travel accordingly, as well as to comply with regulations on price transparency, preventing illegal fare increases.

Source: https://tuoitre.vn/gia-ve-may-bay-noi-dia-ha-nhiet-20240313075108058.htm