Business

Price cap of domestic air service to rise from Q2

The domestic price cap for air service will averagely increase by 3.75% from the current one from the second or third quarter of 2023, according to the Ministry of Transport.
Price cap of domestic air service to rise from Q2 ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) –The domestic price cap for air service will averagely increaseby 3.75% from the current one from the second or third quarter of 2023, according to the Ministry of Transport.

Under a plan ofthe ministry, the cap on domestic airline tickets will beapplied on four kinds of flights.

New airfares for flights with a distance of 1,280km upward, from 1,000 – under 1,280km, 850 -  less than 1,000 km, and from 500 – under 850km will rise by 6.67%, 6.25%, 3.58% and 2.25% to a maximum of 4 million VND (170.03USD), 3.4 million VND, 2.89 million VND, and 2.25 million VND, respectively.

Fares for air routeswith a distance of less than 500km and State-supported ones will not change.

According to the CivilAviation Administration of Vietnam and the General StatisticsOffice, this adjustment is expected to contribute to increasing the country’s CPIthis year to about 0.07 percentage points.

At aseminar held by the VietnamAviation Business Association (VABA) in late February, representatives of airlines and transportexperts suggested removing the price cap for domestic air service to ensure a variety of price policies to providethe best quality products to customers./.
VNA
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