Despite global hardships and potential fluctuations, Vietnam has become one of the outstanding countries for international tourism and business activity recovery as mobility restrictions were lifted. The aviation industry is one of the first sectors taking advantage from the recovery of the economy.

Domestic market has surged from the end of Q1, 2022 along with the increase in summer peak passenger volume by over 30 percent compared to the pre-COVID level. Following this, aviation enterprises including Airports Corporation of Vietnam (ACV) have accelerated recovery, such as exceeding the business plan target, maintaining state capital together with important balances in finance and investment as well as fully ensure welfare policies and staff’s stable income.

Ensuring operational safety and security

Ensuring safety and security is a top priority of ACV’s operation. In 2022, its airports handled 99 million passengers, increasing to 122 percent and 228 percent compared to the business plan and the previous year, respectively, with 12 million international passengers and 87 million domestic ones. Beside that, aircraft movements reached 658 thousand movements, increasing to 114 percent and 125 percent compared to the business plan and the previous year, respectively.

The development of security force and specialized facilities has gradually met international standards. In addition, ACV signed the Regulation on coordination with Government authorities and armed force to ensure safety and security at its airports.

Moreover, facility investment and IT application such as AOCC establishment, Self check-in kiosks, and Self bag drop are considered as effective solutions to streamline airport procedures.

Mr. Nguyen Hoang Anh - Member of the Central Committee of the Communist Party, Chairman of the Commission for the Management of State Capital at Enterprises gave a directing speech at the year end conference. 

Total revenue reached over 15 trillion VND

Total revenue is estimated at 15,381 billion VND, surpassing the total planning of 2022 with 149 percent and a 200 percent increase compared to the previous year. Total cost is estimated at 7,819 billion VND, equivalent to 101.2 percent and 25 percent increase compared to the total planning and the previous year, respectively. Profit before tax is 7,561 billion VND, reaching 295 percent of the total planning, increasing nearly 10 times compared to 2021. Payment to the state budget is estimated at 1,548 billion VND.

The indicators show that ACV has recovered from 70 percent to 90 percent compared to the pre-COVID level with the increase in domestic passenger volume by 21 percent. This is a positive signal that the market is on track for a full recovery in 2023.

Megaproject implementation

In 2022, ACV has implemented the management of investment and construction in six megaprojects with two national significant projects. There are Long Thanh international airport Phase 1, Sub-project 3: Essential airport facilities; T3, Tan Son Nhat international airport; T2 expansion, Noi Bai international airport; T2, Phu Bai international airport; Dien Bien airport expansion; and T2, Cat Bi international airport. The total estimated investment in the period of 2021-2025 reaches 110 trillion VND to handle a capacity of 50 million passengers for ACV’s airport system annually.

Accelerating digital transformation  

ACV has developed a roadmap for digital transformation from 2025 to 2030. In accordance with this, ACV achieves a number of significant results in 2021 and 2022, including investment in and upgrades to its airports’ IT infrastructure and SD-Wan connection technology at its headquarters; completion of the SCN and iCUTE network infrastructure for 12 airports; research and development of AODB, iCUTE FIDS, and PAS projects for Da Nang international airport and other level 2 and level 3 airports; upgrades to the SCN and CUTE/ CUPPS T2 at Noi Bai and Tan Son Nhat international airports; research a solution plan to improve IT infrastructure at ACV’s headquarters and further enhance business administration capability; and deployment of the ACDM project's digital transformation of airport operational management, aviation safety, and security.

In 2023, total passenger volume is estimated to exceed 116 million passengers.

In 2023, the global situation is forecasted to change dramatically in complicated and fluctuating contexts at all political, security and defense as well as socio-economy sectors. Following this, the aviation industry might face both opportunities and threats at the same time. ACV has the highest endeavor to hit and surpass its business plan in 2023, as follows: The total number of passengers handled is expected to exceed 116 million, an increase of 18% compared to 2022. The entire output of cargo services increases by 18% compared to 2022, reaching 1,634,000 tons. The total revenue is 18,414 billion VND, which is 20% more than in 2022. The EBIT is 8,448 billion VND, a 11% increase compared to the previous year. The state budget remittance is 1,831 billion VND, which is 18% higher than in 2022.

Regarding the investment plan, 2023 is the premise year for ACV's key projects to commence mass construction. ACV will focus on synchronous construction of the following works: terminal passengers, runways, taxiways of Long Thanh International Airport in Q1, 2023, ensuring that by the end of 2023, the majority of the project’s construction framework will be in place; pile foundation and basement floor in Q1, 2023 to initiate construction of the T3 Terminal of Tan Son Nhat International Airport; runways of Dien Bien Airport by Q4, 2023; the T2 Passenger Terminal of Noi Bai International Airport. In addition, ACV will continue to facilitate periodic airfield maintenance and repair, invest in technological infrastructure on the basis of Aviation Safety and Security Scheme and the digital transformation roadmap.

Airports Corporation of Vietnam