VOV.VN - After nearly two-year hiatus of international flights, with exceptions for returning citizens and foreign experts, the country’s aviation industry is facing its worst crisis amid the COVID-19 pandemic.

The Ministry of Transport has issued a decision on scrapping the general aviation business licence No. 01/2018/BGTVT-VT granted to Globaltrans Air Service JSC.

The Vietnamese aviation market is predicted to begin recovering by the middle of the third quarter with this year’s total estimated capacity of over 70 million passengers.

VOV.VN - The Vietnamese aviation industry continues to take the brunt of three global waves of the novel coronavirus (COVID-19) pandemic, with the industry forced to cut ticket prices to stimulate demand, leading to airlines facing unprecedented consequences and losses in the peak season.

Although the aviation industry was ravaged by the COVID-19 pandemic, logistics companies at airports still maintained operations.

VOV.VN - Experts anticipate that the upcoming year will remain challenging for the aviation industry, with the domestic market already being fully exploited and international flights yet to be restored.

Vietjet Aviation Joint Stock Company (HoSE: VJC) recorded lower-than-expected loss of VND1.44 trillion (about US$62 million) for its air transport activities in the first half of 2020.

The second wave of COVID-19 that began at the end of July, the peak summer travel period, has disillusioned airlines that had earlier begin to hope for a recovery.

The Planning and Investment Ministry has suggested that the PM delays his approval to new carrier KiteAir’s investment proposal over COVID-19 impacts.

It is undeniable that the aviation industry has contributed greatly to the development of the global economy, accounting for roughly 3.6% of total global GDP.