Airfares surge ahead of Lunar New Year holiday

Passengers boarding a Vietnam Airlines plane (Photo: VNA)

Hanoi – As the Lunar New Year (Tet) holiday is approaching, the Vietnamese aviation market has experienced intense pressure with airfares soaring and seat availability becoming increasingly scarce.

Two months ahead of the nation’s biggest and longest holiday, many seats on flights have been already 90-100% booked while the number of operational aircraft has decreased by nearly 50 as compared to the same time last year.

The Civil Aviation Authority of Vietnam (CAAV) said the occupancy rate on the Ho Chi Minh City – Hue and Ho Chi Minh City – Chu Lai routes is 90% while tickets have been already sold out on those connecting the southern economic hub and Pleiku, Tuy Hoa, Quy Nhon, and Quang Binh.

Airlines estimated a 10% increase in travel demand for the holiday, complicated by ongoing fleet challenges, with Bamboo Airways and Pacific Airlines undergoing restructuring and Vietnam Airlines and Vietjet having to ground 20-25 planes for maintenance due to engine issues.

As a result, families are facing financial challenges since ticket prices nearly double during the peak travel season. Flying from Ho Chi Minh City to Hai Phong city could cost around 3.7 million VND (145.76 USD) per pax while airfares on the route during normal day range from 1.8 to 1.9 million VND.

Vietnamese carriers have leased aircraft in preparation for the travel boom during the holiday. Bamboo Airways added a narrow-body Airbus plane last month, increasing its fleet to eight. Earlier, Vietravel Airlines received a plane it wet-leased from Avion Express, a Lithuania – based lessor.

In the meantime, Vietnam Airlines has carried out its plan to lease four Airbus A320/A321 planes, each of which is expected to operate 180 flights during peak time.

CAAV Director Dinh Viet Thang said ticket price increases are typical during peak periods due to high demand and a rise in the operational costs, including fuel prices and currency fluctuations.

The aviation authority has directed airport management agencies to optimise flight schedules and increase the number of night flights to meet demand amidst an aircraft shortage, he said, adding competent authorities are monitoring ticket prices closely, asking businesses to list the airfares in accordance with regulations.

Airlines have warned consumers about a growing wave of fraudulent websites deceiving customers by requesting payments through personal accounts while failing to provide legitimate tickets or actual services, effectively stealing money from passengers.

Vietnam Airlines has specifically identified multiple fake domain names designed to mislead consumers, including variants such as vietnamairslines.com, vietnamaairlines.com, vietnamairlinesvn.com, and vemaybayvietnam.com. These fraudulent sites aggressively market tickets at prices that are 40-60% lower than official rates, attempting to lure customers with seemingly attractive deals.

Other carriers like Vietjet and Vietravel Airlines have also alerted the public about sophisticated scam tactics. These include fake prize notification schemes and fraudulent cheap ticket offers that typically involve sending deceptive links and pressuring customers to disclose personal and credit card information with the intent of financial theft./.