Vietnam News Network

The International Air Transport Association (IATA) plans to open its first representative office in Vietnam this month, IATA General Director and CEO Giovani Bisignani said during a country visit this week.

IATA’s top executive said Vietnam is among one of the ten fastest-growing air transport markets in the world, despite the recent slowdown in the world’s aviation industry.

International passenger demand growth sank to 1.3 percent in August, following a disappointing growth of 1.9 percent in July, IATA website said.

International freight traffic saw its third consecutive month of reduction, with a 2.7 percent decline following drops of 1.9 percent in July, and 0.8 percent in June.

Bisignani said the world’s aviation industry may incur losses of US$5.2 billion this year despite decreases in fuel prices.

Vietnam, however, remains a fertile market and, according to Bisignani, holds a key role in the Asia-Pacific region.

The CEO praised Vietnam’s success in implementing e-tickets by IATA’s deadline on June 1.

IATA represents about 230 world airlines comprising 93 percent of scheduled international air traffic.

Vietnam became a member of IATA in 2006 and received IATA’s Operational Safety Audit (IOSA) certificate the same year.