In the context of the global aviation industry facing a fuel crisis due to geopolitical conflicts in the Middle East, the constructive, guiding and accompanying role of State management agencies is increasingly being recognized as crucial for airlines. 
"I can affirm that the State, ministries, sectors and Vietnam’s aviation authorities have been responding very quickly and promptly, demonstrating responsibility and strong support for businesses to proactively cope with and mitigate losses caused by severe market fluctuations," said Bamboo Airways Deputy CEO Võ Huy Cường when assessing the current challenging period for the aviation industry. 

Mr. Võ Huy Cường – Deputy CEO of Bamboo Airways

Looking back at the period from the end of the Covid-19 pandemic until now, how do you evaluate the role of the State in the recovery of Vietnam’s aviation industry?
Over the past few years, Vietnam’s aviation industry has gone through an extremely special period. The Covid-19 pandemic, which broke out in 2020 and lasted for more than two years, profoundly affected aviation operations worldwide, forcing airlines to face unprecedented challenges.
Travel demand declined sharply, many countries closed their borders and implemented social distancing measures to curb the spread of the virus, and international flights were almost completely suspended for a long period. Airlines had to restructure and seek various solutions to maintain operations and gradually recover.
However, in that context, it is fortunate and encouraging that no Vietnamese airline fell into bankruptcy. In the post-Covid-19 period, the market also witnessed the emergence of new airlines entering the air transport market. This is clearly a positive signal, reflecting the potential of Vietnam’s aviation industry as well as investors’ confidence in its development prospects.
To achieve this result, it is impossible not to mention the close guidance, constructive role and strong support from the Party, the National Assembly, the Government and relevant ministries and sectors. An important milestone was the National Assembly’s approval of the Civil Aviation Law of Vietnam No. 130/2025/QH15, which will officially take effect from July 1, 2026. The new law demonstrates innovative thinking and provides a more favorable legal foundation for the aviation industry to develop in the country’s new stage.
Thanks to timely orientations and policies from the authorities, Vietnam’s aviation market recovered rapidly. In 2023, the domestic passenger market recorded strong growth. In 2024, the international passenger market surged significantly. 
And in 2025, Vietnam’s aviation industry transported 83.5 million passengers, the highest figure ever recorded, surpassing even the pre-Covid peak in 2019. 
After the pandemic passed, other challenges emerged. Global geopolitical instability continues, from the Russia–Ukraine war to the current tensions involving Iran, the United States and Israel. In your opinion, how significant is the impact of these developments?
I believe that recent global developments, especially conflicts in the Middle East, are placing the global aviation industry under an extremely serious and unprecedented test. In my view, the impact of this crisis has come quickly, immediately, and more deeply and severely than the effects experienced during Covid. 
During Covid, travel demand dropped sharply due to border closures and mobility restrictions. However, global supply chains were not broken. Airlines were still able to flexibly convert most of their fleets to cargo transportation, utilizing both the belly cargo and passenger cabins of aircraft, creating a unique precedent. This became an important revenue source that helped airlines maintain operations on the thin line between survival and bankruptcy.
In contrast, under the current geopolitical tensions, the biggest risk lies in the potential disruption of aviation fuel supply chains. 
The Middle East is a global energy hub and also a key connection point between Asia–Europe routes and between these continents and the Middle East–Gulf region. When conflicts occur, many flight routes must be rerouted or temporarily suspended for safety reasons. 
This not only affects passenger transportation but also directly impacts air cargo transportation, creating extremely large and sudden disruptions whose end cannot yet be predicted. 
Another major concern is the potential shortage of aviation fuel supply (including Jet-A1 and SAF). Prices may fluctuate abnormally with sharp increases. If conflicts in the Gulf region continue, aviation fuel supplies for commercial aviation activities could face serious shortages within just a few weeks. In such a situation, airlines could face two very difficult scenarios.
The first is a severe decline in fuel supply, except for reserves serving national defense and disaster response. 
The second, a more optimistic scenario, is that fuel supply may still be maintained but at dramatically increased prices due to scarcity, with airlines competing for limited fuel shipments, causing operating costs to rise sharply and placing enormous pressure on airlines’ financial health.
In both cases, airlines will suffer significant losses. When aircraft are grounded, companies still have to pay maintenance, repair, and labor costs while revenues nearly disappear. The larger the fleet, the greater the losses. 
This situation does not only affect airlines but also the entire aviation ecosystem, including airports, air traffic management authorities and businesses providing aviation and non-aviation services at airports. No aviation enterprise can be considered “fortunate” in this global crisis.

Aviation businesses are simultaneously under pressure from geopolitical crises

Faced with this major risk, how have State management agencies responded with policy measures to support aviation businesses from your perspective?
I can affirm that the State, ministries, sectors and Vietnam’s aviation authorities have been responding very quickly and promptly, demonstrating responsibility and strong support for businesses to proactively cope with and mitigate losses caused by severe market fluctuations.
As soon as the risk of aviation fuel shortages emerged, the Civil Aviation Authority of Vietnam proactively organized a “Dien Hong Conference” with enterprises in the industry to assess the situation, identify challenges and risks comprehensively, and consolidate recommendations and timely response solutions.
Based on that, many solutions were immediately implemented by businesses in a coordinated manner, while other important proposals were submitted to the Ministry of Construction and the Government for timely decisions and directives.
One notable policy is the reduction of import tax on aviation fuel from non-ASEAN sources to 0%, officially applied from March 9, 2026. This is a very practical solution aimed at expanding fuel supply sources and reducing cost pressure for airlines amid rising oil prices.
In addition, the Civil Aviation Authority of Vietnam has also proposed that the Government consider allowing fuel surcharges in airfares. This is considered a flexible mechanism enabling airlines to better balance operating costs during periods of volatile fuel prices.
Currently, domestic airfares are regulated under a price ceiling mechanism to protect consumer interests. This ceiling price is being applied under Circular No. 44/2024/TT-BGTVT issued on November 15, 2024. In the context of market volatility, reviewing and adjusting the price ceiling framework to better reflect reality is an issue that needs consideration.
In the new Civil Aviation Law of 2025, the principle of managing price ceilings has been regulated in a more flexible direction, allowing implementation according to market mechanisms with price regulation by competent authorities in line with market fluctuations. 
Therefore, adjusting price ceilings in line with real market developments is both necessary and reasonable. This will become an important regulatory tool to help aviation businesses ease cost pressures during difficult times.
Beyond short-term solutions, how do you evaluate the State’s role in developing Vietnam’s aviation ecosystem in the long term?
The State’s role in the development of the aviation industry certainly lies not only in short-term support policies but also in long-term strategic orientations.
In recent years, the Government has paid great attention to investing in and upgrading aviation infrastructure, especially airport systems and civil air traffic management systems. 
Another notable point is the policy of encouraging the private sector to participate more deeply in the aviation industry. Party Resolution 68 has created favorable conditions for non-state economic sectors to invest in many aviation-related fields, from aircraft maintenance, aviation fuel supply and in-flight catering to airport infrastructure development.
In practice, we have witnessed the increasingly strong participation of private enterprises in the aviation supply chain. Many new airport infrastructure projects such as Long Thanh, Van Don, Phu Quoc, Quang Tri and Phan Thiet are opening up new development opportunities for the industry.
The formation of a diverse aviation ecosystem with the participation of both the public and private sectors will enhance the competitiveness of Vietnam’s aviation industry while enabling Vietnam to gradually become a competitive destination in the region, on par with major aviation hubs.

For Bamboo Airways specifically, what significance does the support of State management agencies have in the current context?
As a private airline established after more than a decade without new entrants in Vietnam’s aviation industry, Bamboo Airways was entering a strong growth phase when the pandemic broke out, and today the airline continues to face unprecedented fluctuations in the global energy market. 
However, those turbulent periods in the past have trained Bamboo Airways to become an airline capable of adapting, resiliently pursuing sustainable long-term development goals.
In the current context, the constructive and supportive role of State management agencies remains extremely important for the aviation industry. Timely policies such as reducing import tax on aviation fuel, allowing fuel surcharges and facilitating market-based mechanisms have provided airlines, including Bamboo Airways, with additional room to maintain operations.
Alongside internal efforts, Bamboo Airways has actively and proactively proposed policy solutions to authorities, not only for the benefit of the airline itself but also for the development of the entire aviation industry. Examples include recommendations related to stabilizing foreign currency funds, expanding aviation fuel import sources and improving the price ceiling mechanism for domestic routes.
We believe that with the support of the State, combined with the internal efforts of enterprises, Vietnam’s aviation industry will have sufficient capacity and determination to turn challenges into opportunities, overcome current difficulties and continue contributing positively to the development of tourism, trade and the national economy.