VIETNAM AVIATION INDUSTRY
   Demand for customer and cargo transport in 2018 grew worldwide, but at the lowest rate in the last 4 years. The growth rate in the number of customers in 2018 was about 6.1%, which was equivalent to the average of the last 5 years, but lower than the strong growth of 2017 (7.2%). The global domestic air travel in 2018 increased 7.0% over 2017. In general, all markets witnessed growth, especially the Indian and Chinese markets.
   According to data published by IATA, Vietnam is in the group of 5 markets with passengers traveling by air. The revenue of aviation industry continued to grow strongly over the years, the average growth rate in the period of 2010-2018 reached 15.5%.
   Vietnam aviation industry has a low level of competition when the number of participating firms is much lower than other countries in the region. The number of Vietnamese planes continuously increased over the years with CAGR of 9.3% in the period of 2011-2018 . In 9M/ 2019, VietJet Air ranked first in the number of flights operated with 377 flights per day, rising 14.1% over the same period last year.
   The number of flights operated in Q1/2019 grew 7.2% over the same period in 2018 thanks to the entry of Bamboo Airline. In Q1/2019, the airlines’ OTP punctuality dropped sharply, whose reason was attributed to the weather and technical problems of the airlines.
   2018 was a special year when domestic airlines’ growth rates all achieved higher than 2-digit due to the booming demand of passengers. According to VIRAC’s estimates, in the period of 2017-2023, the annual growth rate of air passengers will reach 10.9%.

Abbreviation
Summary
   1. Business environment
1.1 Macr-economic situation
1.2 Legal framework
1.3 Impacts of trade agreements
   2. World aviation industry
2.1 History of development
2.2 Industrial development situation
2.3 Top world’s largest airlines
2.4 Typical nations
   3. Vietnam aviation industry
3.1 History of development
3.2 Aviation industry’s value chain
3.3 Industrial scale
3.4 Aviation industry’s situation
3.4.1 Air transport situation
3.4.2 Airport situation
3.5. Risks, forces and challenges
3.5.1 Risks
3.5.2 Forces
3.5.3 Challenges
3.5.4 Competitive analysis follows 5-forces
3.6 Plan and forecast
3.6.1 Industrial plan
3.6.2 Forecast
   4. Business analysis
4.1 Top 10 enterprises
4.2 Business performance indicators
Appendix

Airports Corporation of Vietnam – JSC
VietJet Aviation Joint Stock Company
Airports corporation of Vietnam
Saigon Cargo Service Corporation (SCSC)
Noi Bai cargo terminal services JSC
Saigon ground services
Southern Airports Services JSC
Cam Ranh International Airport Services Joint Stock Company
NoiBai Airport Services Joint Stock Company
Cam Ranh International Airport Services Joint Stock Company
Noi Bai Catering Services Joint Stock Company
Danang Airports Services Joint Stock Company

List of figures
Figure 1: GDP growth by quarter, 2016 – 2019
Figure 2: Proportion of transport and warehousing sector in GDP,
2013 – 9/2019
Figure 3: Import and export of goods, 9M/2013 – 9M/2019
Figure 4: The number of tourists in Vietnam, 2010-2018e
Figure 5: World crude oil price, 2011 – 9/2019
Figure 6: The average price of crude oil and petrol in the years 2011 – 2018e
Figure 7: Global aviation industry revenue, 2010 – 2019f
Figure 8: Structure of aviation industry by sector, 2018
Figure 9: Revenue of the world passenger transport segment, 2017
Figure 10: Revenue structure of auxiliary services, 2017
Figure 11: Growth rate of RPK, FTK, 2012 – 2018
Figure 12: The number of customers is not, 2012 – 2018
Figure 13: Structure of passenger revenue in the whole industry per km (RPKs),
2017 – 2018
Figure 14: Growth of domestic passenger transport market in some countries,
2017 – 2018
Figure 15: Load factor, 2012 – 2018
Figure 16: Travel spending and value of aviation trade goods,
2012 – 2017
Figure 17: Number of airports connected and real transportation costs, 2012 – 2018
Figure 18: Accident rate/1 million flights by region, 2018
Figure 19: Growth of freight routes between regions,
2007 – 2037f
Figure 20: CAGR growth of freight groups world aviation, 2006 – 2016
Figure 21: Structure of aircraft type used in transport routes
Air cargo, 2018e
Figure 22: Revenue of non-regional port industry, 2016
Figure 23: Cargo output through airports
by region, 2016
Figure 24: Top 10 airports have the number of passengers passed
The world’s largest, 2018
Figure 25: The number of passengers in the US airline industry, 2010 – 2017
Figure 26: Market share of world aircraft manufacturing enterprises, 2016 – 2025f
Figure 27: The number of Chinese aviation industry visitors, 2010 – 2017
Figure 28: The number of Chinese aircraft needed in the next 20 years
Figure 29: The number of tourists in the Indian airline industry, 2010 – 2017
Figure 30: The number of non-Japanese customers, 2010 – 2017
Figure 31: Investment capital and fixed assets of transport industry
air passengers, 2010 – 2017
Figure 32: Airline revenue, 2010 – 2017
Figure 33: Sales revenue, 2010 – 2018e
Figure 34: Revenue structure by sales channel, 2010 – 2018
Figure 35: Number of airlines in some ASEAN countries,
2018
Figure 36: Cost/seat according to listed aircraft prices, 2018
Figure 37: Fuel consumption of aircraft lines, 2018
Figure 38: Domestic aviation market share in Vietnam, 2018
Figure 39: Market share of international passenger transportation, 2018
Figure 40: Market share of domestic air cargo transport
by output, 2017
Figure 41: Market share of international air cargo transport
by output, 2017
Figure 42: Proportion of using passenger transport means,
2013-2018
Figure 43: Proportion of using goods transport means,
2012 – 2018
Figure 44: Number of Vietnamese aircraft, 2011 – 2018e
Figure 45: Aircraft structure by type, 4/2018
Figure 46: Growth of tourists over the years,
2012 – 2018e
Figure 47: Domestic market share, 2011 – 2018e
Figure 48: Number of flights operated, 2014 – 9M/2019
Figure 49: Proportion of flights operated by airline, 9M/2019
Figure 50: The rate of flights taking off on time, 9M/2019
Figure 51: The cause group took off on time, 9M/2019
Figure 52: Causes of cancellations, 9M/2019
Figure 53: The cause structure takes off on time
of each firm, 9M/2019
Figure 54: Structure of canceling flights according to the causes
of each firm, 9M/2019
Figure 55: List of 10 airports with the highest delays and cancellations in the world, August 2019
Figure 56: Market share of airport capacity, 2017
Figure 57: Market share by home service provider Cargo terminal at Noi Bai airport, 2017
Figure 58: Market share by enterprises providing cargo terminal services
at Tan Son Nhat airport, 2017
Figure 59: Passenger scale of some airports
in the area, 2017
Figure 60: Non-aeronautical revenue/customers of some airports
in the area, 2017
Figure 61: Turnover of some airports in the region,
2017
Figure 62: Total population and population structure in working age period
2010 – 2018
Figure 63: Forecast of growth in tourism spending in Vietnam
periods, 2010 – 2027f
Figure 64: Proportion of people using aviation services, 2016
Figure 65: Forecast of airline growth, 2011 – 2023f
Figure 66: Increase the number of customers of Vietnam Airlines 2013-2018
Figure 67: Network routes, 2011 – 2018
Figure 68: Growth of customers of VietJet, 2013 – 2019e
Figure 69: Shareholder structure ACV, 2018
Figure 70: Shareholder structure SCSC, 2018
Figure 71: Shareholder structure NCTS, 2018
Figure 72: Shareholder structure SAGS, 2018
Figure 73: Shareholder structure SASCO, 2018
Figure 74: Shareholder structure TASECO Airs, 2018
Figure 75: Shareholder structure NASCO, 2018
Figure 76: Shareholder structure CIAS, 2018
Figure 77: Shareholder structure NCS, 2018
Figure 78: Shareholder structure MASCO, 2018
Figure 79: Net revenue of transport and airport groups,
2017 – 2018
Figure 80: Net revenue from aviation and cargo service groups,
2017 – 2018
Figure 81: Revenue structure VJC, 2018
Figure 82: Revenue structure HVN, 2018
Figure 83: Gross profit and gross profit margin, 2017 – 2018
Figure 84: Self-financing rate, 2017 – 2018
Figure 85: Selling expenses, 2017 – 2018
Figure 87: Enterprise management costs, 2017 – 2018
Figure 88: Asset turnover, 2018
Figure 89: Inventory turnover, 2018
Figure 90: Receivable turnover, 2018
Figure 91: Rate of return, 2017 – 2018
Figure 92: Payment index, 2017 – 2018
Appendix

List of tables
Table 1: For flights across Vietnam’s airspace
Table 2: For flights through Vietnam’s airspace and flight information areas managed by Vietnam
Table 3: The table compares some input costs between the LCC and FSC models
Table 4: Top 10 passenger airlines (according to RPK), 2017
Table 5: Top 10 cargo airlines (according to FTK), 2017
Table 6: Current situation of aircraft accidents (Jet aircraft) in the world, 2018
Table 7: Top 15 largest air cargo carriers in the world, 2017 – 2018
Table 8: Air services
Table 9: Top 10 largest airlines in the world, 2018
Table 10: Top market has the largest number of passengers, 2018
Table 11: HVN fleet, 10/2019
Table 12: VietJet Air fleet, 9/2019
Table 13: Jetstar fleet, 7/2019
Table 14: Bamboo flying fleet, 10/2019
Table 15: The world’s top 10 punctual airlines, 2018
Table 16: Average occupancy rate, 2010 – 2018
Table 17: List of airports in Vietnam
Table 18: Chain of services and businesses in the airline service group
Table 19: Enterprises providing airport cargo terminal services in Vietnam
Table 20: Projects to upgrade airport infrastructure in Vietnam
Table 21: Visa exemption policy of Vietnam, 2018
Table 22: Growth rate, 2015 – 2030
Table 23: Transport output of Vietnam Airlines, 2015 – 2030
Table 24: International routes have the largest number of passengers, 2035
Table 25: Top typical businesses in the industry in 2018
Table 26: Vietnam Airlines flight routes 2016-2018