Vietnam the Fastest Growing Aviation Market in Asia
Vietnam, my home country, is always a promising destination for foreign visitors not only because of its spectacular wonders, but also due to its amazing street food cuisine and friendly culture. According to IATA, Vietnam is one of the fastest growing aviation markets globally and it will be the fifth fastest-growing market by 2035. Vietnam had been the leading market in Asia-Pacific in terms of air passenger growth in the last five years with 28.9%, which is more than double the second lead market China. Over the last decade, the average growth rate has been 17.4%, far higher than the 7.9% growth in Asia. The key-driven factors are Vietnam joining several free trade agreements, a growing tourism industry with 19% growth rate for domestic passengers and 29% for international travellers in 2017, and the emergence of low-cost carriers.
Currently, there are four main airlines in Vietnam including the flag carrier Vietnam Airlines and two Low Cost Carrier (LCC) Vietjet Air, Jestar Pacific Airlines, and VASCO mainly operating the domestic market. Meanwhile, Vietnam Airlines and Vietjet Air dominate over 80% of the market share in Vietnam, Jetstar Pacific and VASCO only share less than 20%.
In 2018, we witness a phenomenon as the big giant in the real estate - FLC Group has joined this exciting adventure as the owner of Bamboo Airways, named as Vietnamese iconic tree with the slogan “more than just a flight”. The airlines aim to deploy 24 domestic routes and launch 16 international routes by 2023 to connect big cities in Vietnam to other domestic and international famous touristic destinations. However, it would be challenging for Bamboo Airways to follow either traditional airlines or LCC as it has to compete with two biggest rivals Vietnam Airlines and Vietjet Air. Given the circumstances, Bamboo Airways has chosen the hybrid carrier model, which is in between Vietnam Airlines and Vietjet Air market share in order to avoid competing directly with them. Meaning, being flexible combining between traditional airlines and LCC business model.
On Monday 12th November 2018, Bamboo Airways was granted a commercial air transport licence, which enables the airline working on its AOC - Aircraft Operator Certificate from the Civil Aviation Administration of Vietnam (CAAV) and thereafter can begin commercial flight operations. The first flight on is expected on 29th December 2018 between Hanoi and Quy Nhon.
Bamboo Airways is an ambitious operation, which has signed a contract with Airbus and Boeing to order 24 A321 NEO and 20 B787-9 Dreamliner worth 8.8 billion USD to be delivered between 2019-2021. Its determination is to operate immediately 30 aircraft at the very beginning, and increase up to 40 Airbus 320/321 aircraft and 20 Boeing 787-9 in 2020. This requires a huge human resource preparation from Bamboo Airways in order to reach its goal.
Proud to be the primary strategic business partner supplying pilot resources for Bamboo Airways, Brookfield Aviation International is constantly recruiting Airbus 320/321 Captains and First Officers for a 2-year contract (renewable) with an attractive benefits package. Our top professional and experienced team has been working extraordinarily hard to deliver a great result and support the airline to meet its ambition.
If you are interested in joining this excitingadventure, you can apply via the links below or contact Mr Paul Osorio – paul@brookfieldav.com (Captains) and Ms Anna Tran - anna@brookfieldav.com (First Officers) for more details.
