Analyst Pin-board ACV – Domestic pax volume rapidly returned to near all-time high in May, boding well for a full recovery
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· Longer consecutive holidays amid no travel restrictions have driven domestic air pax volume to near all-time high, reaching 8.5 mn in May 2022. Accumulated 5M-2022 domestic volume amounted to 31.4 mn pax, up by 23% YoY. · Following a full international sky reopening in mid-March, international air pax volume started to pick up in Apr. Accumulated 5M-2022 international volume was more than 7.5x higher YoY, reaching 1.5mn pax. · Civil aviation authority of Vietnam expects that air pax volume will recover to 70-80 mn pax in 2022 since all restrictions are lifted. In which, int’l pax and domestic pax could reach 10mn pax (24% pre-Covid level) and 60-70 mn pax (80%-94% pre-Covid level), respectively. · We’re pending a comprehensive review on the current TP for ACV of VND 100,400 due to better-than-expected air passenger volume. |
Airports Corp Of Viet Nam. Airports Corporation of Viet Nam (ACV) is a Vietnam-based company primarily engaged in airport operation sector. Its leading business activities include the development, operation and maintenance of airport infrastructure and facilities such as runways, apron areas, taxiways, aircraft hangars, lighting systems, air traffic control towers and meteorological offices, among others. The Company provides ground services, including luggage handling, freight loading and unloading, passengers and baggage check-ins, as well as transportation from terminals to aircrafts; aircraft towing, marshalling, guarding, and securities scanning services. ACV is also engaged in the leasing of office, retail, advertising and parking spaces, along with the operation of its own souvenir and liquor shops, restaurants and convenience stores.
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