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Vietjet outpeforms pre Covid levels

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TTR WEEKLY
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BANGKOK, 2 August 2024: Vietjet Aviation Joint Stock Company has released its financial statement for the first half of 2024 (H1/2024), reporting record revenue growth.

In the first six months of 2024, Vietjet’s performance surpassed pre-pandemic 2019. The airline transported 13.1 million passengers on 70,154 flights during H1/2024.

Vietjet’s operations in 1H202 4 outperformed the pre-pandemic era.

For the second quarter of 2024 (Q2/2024), Vietjet reported air transport revenue of VND15.128 trillion (USD601 million) and a pre-tax profit of VND517 billion (USD20.57 million), marking year-over-year growth of 23% and 683%, respectively.

Over the six months, cumulative air transport revenue reached VND32.893 trillion (USD1.3 billion), up 31% year-over-year. Pre-tax profit for this period was VND1.174 trillion (USD46.77 million), surging by 690% compared to the previous year.

Vietjet’s consolidated revenue for H1/2024 totalled VND34.016 trillion (USD1.35 billion), with a consolidated pre-tax profit of VND1.311 trillion (USD52 million). These increases were 15% and 433% year over year, respectively. The profit even exceeded the H1/2024 target by 21%.

As of 30 June 2024, Vietjet’s total assets amounted to over VND91.755 trillion (USD3.65 billion). The airline’s debt-to-equity ratio remained at around two, well below the global average of five. Cash and cash equivalents by the end of Q2/2024 were reported at VND4.1 trillion (USD163.18 million).

According to Saigon Ratings, an independent credit rating organization, Vietjet has maintained a long-term credit rating of vnBBB with a “stable outlook.” Given the airline’s remarkable recovery and proactive planning over the past two years, Vietjet is expected to make breakthrough developments faster and more sustainably in the medium to long term.

In H1/2024, Vietjet paid VND3.687 trillion (USD146.78 million) in direct and indirect taxes and fees.

Leading international expansion

Vietjet operates more than 149 routes across Vietnam and internationally, including 38 domestic and 111 international routes.

Vietjet has launched new routes connecting Ho Chi Minh City with Xi’an, Phu Quoc with Taichung and Kaohsiung, and Ho Chi Minh City with Vientiane.

The airline has also announced the Nha Trang-Daegu route, which will start in October 2024. This solidifies Vietjet’s position as the largest airline in terms of routes connecting Vietnam and South Korea after a decade of serving nearly 10 million passengers across more than 37 routes between the two countries.

Regarding the Asia-Australia transcontinental route, Vietjet has added two new routes from Hanoi to Melbourne and Sydney, increasing services between Vietnam and Australia to seven. This expansion enhances connectivity for travel, tourism, investment, trade, overseas study, and family visits. With five routes from Ho Chi Minh City to the five largest cities in Australia, Vietjet now operates the most routes between Vietnam and Australia, with 58 weekly flights.

2024 also marks the airline’s new milestone of comprehensive development with its expansive mid-range international network. The airline is ready to meet domestic transport demand while further preparing for additional international routes.

Airline passenger traffic up 9.1% in June

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TTR WEEKLY
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SINGAPORE, 2 August 2024: The International Air Transport Association (IATA) released data for June 2024, highlighting an increase of 12.3% in international passenger uplift compared with the same month in 2023. 

Total demand, measured in revenue passenger kilometres (RPK), was up 9.1% compared to June 2023. Total capacity, measured in available seat kilometres (ASK), was up 8.5% year-on-year. The June load factor was 85.0% (+0.5 percentage points (ppt) compared to June 2023).

International demand rose 12.3% compared to June 2023. Capacity was up 12.7% year-on-year, and the load factor improved to 85.0% (-0.3ppt on June 2023).

Domestic demand rose 4.3% compared to June 2023; capacity was up 2.1% year-on-year, and the load factor was 85.0% (+1.7ppt compared to June 2023).

“Demand grew across all regions as the peak northern summer travel season began in June. With overall capacity growth lagging in demand, we saw a very strong average load factor of 85% achieved in both domestic and international operations. Operating with such high load factors is both good and challenging. It makes it even more important for all the stakeholders to operate with equal levels of efficiency to minimise delays and get travellers to their destinations on schedule,” said  IATA’s Director General Willie Walsh

“As the Olympic Games unfold in Paris, the aviation industry is proud of its continuing role in supporting the Olympic story by bringing many of the athletes, fans, and officials together. It is a great reminder of how aviation transforms our vast world into a global community. We wish France every success as the host of the games and cheer all the athletes who will demonstrate the best of human endeavour over the next weeks,” said Walsh.

Regional Breakdown – International Passenger Markets

All regions showed strong growth for international passenger markets in June 2024 compared to June 2023.

Asia-Pacific airlines’ growth remained strong, with a 22.6% year-on-year increase in demand. Capacity increased 22.9% year-on-year, and the load factor was 83.0% (-0.2ppt compared to June 2023). The Africa-Asia route was the fastest expanding regional pair, growing 38.1%.

European carriers saw a 9.1% year-on-year increase in demand. Capacity increased 9.8% year-on-year, and the load factor was 87.4% (-0.6ppt compared to June 2023).

Middle Eastern airlines saw a 9.6% year-on-year increase in demand. Capacity increased 9.4% year-on-year, and the load factor was 79.7% (+0.1ppt compared to June 2023).

North American carriers saw a 6.6% year-on-year increase in demand. Capacity increased 8.6% year-on-year, and the load factor was 88.7% (-1.6 ppt compared to June 2023), the highest among regions.

Latin American airlines saw a 15.3% year-on-year increase in demand. Capacity climbed 15.6% year-on-year. The load factor was 85.1% (-0.2ppt compared to June 2023).

African airlines saw a 16.9% year-on-year increase in demand. Capacity was up 5.8% year-on-year. The load factor rose to 77.0% (+7.4ppt compared to June 2023), the largest improvement among all regions.

China Eastern adds Southeast Asia flights

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TTR WEEKLY
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KUALA LUMPUR, 2 August 2024: China Eastern Airlines is boosting seasonal flights from China’s coastal city of Yantai to two of Southeast Asia’s capital cities, Kuala Lumpur and Bangkok. 

Yantai, formerly known as Chefoo, is a coastal prefecture-level city on the Shandong Peninsula in the northeastern Shandong province of the People’s Republic of China.

China Eastern Airlines introduced the inaugural flight from Yantai to Kuala Lumpur on 28 July scheduling twice-weekly flights through to 29 August according to airline timetable schedules. Tourism Malaysia executives and KLIA airport officials welcomed the inaugural flight at a ceremony hosted at the Tourist Information Centre Arrival Hall at Terminal 1, Kuala Lumpur International Airport, on 28 July.

The airline deployed an A320 to serve the route with direct flights departing Yantai every Wednesday and Sunday for the duration of August.

Flight MU7363 departs Yantai (YNT) at 1750 and arrives in Kuala Lumpur (KUL) at 0020 (plus a day).
Flight MU7364 departs Kuala Lumpur at 0120 and arrives in Yantai at 0750 (Mon and Thu)

Seasonal flights Yantai to Bangkok

Meanwhile, the airline will add an additional service from Yantai to Bangkok Suvarnabhumi Airport (BKK) starting this week (5 August) and running through 20 August using A320s.

China Eastern will resume three weekly flights from Yantai to Bangkok Suvarnabhumi. It last flew this route in February 2020 and paused flights due to the Covid-19 pandemic. It delayed resuming flights as outbound group travel from China failed to recover until earlier this year.

Flight MU7367 departs Yantai(YNT) at 2240 and arrives in Bangkok (BKK) at 0315. Flights depart Yantai on Monday and Friday.  
Flight MU7367 departs Yantai (YNT) at 2255 and arrives in Bangkok at 0315 (Wednesday).
Flight MU7368 departs Bangkok at 0415 and arrives in Yantai at 1025 (Tuesday, Thursday and Saturday).

Yantai, China, plays a relatively minor role in airline travel to Southeast Asia for various reasons. Compared to major Chinese aviation hubs like Beijing, Shanghai, Guangzhou, and Chengdu, Yantai is a smaller city with a correspondingly smaller airport.

There are limited direct flights, and those that operate are mainly seasonal or charter flights connecting Yantai to popular Southeast Asian tourist destinations. The number of direct flights is significantly less compared to other Chinese cities.

Travellers from Yantai are more likely to fly through one of the larger Chinese hubs, which have more options and connections to Southeast Asian capital cities and tourist destinations.

Where is Yantai?

Yantai, formerly known as Chefoo, is a coastal prefecture-level city on the Shandong Peninsula in the northeastern Shandong province of the People’s Republic of China. Lying on the southern coast of the Bohai Strait, Yantai borders Qingdao on the southwest and Weihai on the east, with sea access to both the Bohai Sea (via the Laizhou Bay and the Bohai Strait) and the Yellow Sea (from both north and south sides of the Shandong Peninsula). 

It is the largest fishing seaport in Shandong. Its population reached 6,968,202 during the 2010 census, of whom 2,227,733 lived in the built-up area of the four urban districts of Zhifu, Muping, Fushan and Laishan.

(SOURCE: Airline timetable data, Tourism Malaysia and Wikipedia)

AirAsia boosts India flights from Phuket

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TTR WEEKLY
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BANGKOK, 2 August 2024: AirAsia Thailand continues expanding in India by introducing direct flights from Phuket to Chennai and Kolkata, effective late October. 

Indian travellers enjoy a 60-day visa-free stay in Thailand following a recent liberalisation of visa rules, which is driving an uptick in tourist arrivals to Thailand’s southern beach resorts and the capital, Bangkok. Over 1 million Indians visited Thailand during the first six months of 2024.

The new flight services, set to take off on 27 October 2024, will enable travellers from two of India’s key cities to fly directly to Phuket, Thailand’s top tourist island. 

Phuket to Chennai

The Phuket-Chennai route will kick off with three flights weekly on a Tuesday, Thursday and Saturday. Trip.com quotes a roundtrip fare of USD237 for the three-hour and 10-minute flight using A320s.  

Flight FD192 departs Phuket (HKT) at 2350 and arrives in Chennai (MAA) at 0135 (plus a day)
Flight FD193 departs Chennai at 0205 and arrives in Phuket at 0645.

Phuket to Kolkata

The low-cost airline will schedule daily flights on the Phuket-Kolkata route. Trip.com quotes a roundtrip fare of USD218 (flight time three hours and 10 minutes).

Flight FD186 departs Phuket (HKT) at 2350 and arrives in Kolkata (CCU) at 0125 (plus a day).
Flight FD187 departs Kolkata at 0345 and arrives in Phuket at 0820.

Fares in the Thai market

Promotional fares ex-Thailand for both routes start at THB2,990 one-way and are available for booking until 11 August 2024 for travel between 27 October 2024 and 29 March 2025. Booking should be made on the AirAsia MOVE app or the airasia.com website. 

Thai AirAsia Chief Executive Officer Santisuk Klongchaiya said: “AirAsia has long awaited the opportunity to expand its network to the major metro cities of India. Following the Thai government successfully negotiating aviation rights with India, AirAsia is now fully ready to add connections between both countries. (We are) extending our international network beyond Bangkok by establishing direct routes from our Phuket hub.”

Phuket is a popular destination for travellers worldwide, and India is one of the strongest source markets for the holiday island since the pandemic. The island province is blessed with stunning white sandy beaches on its west coast facing the Andaman Sea, national marine parks, collections of art and cultural sights in its old city, and fresh seafood. 

Kolkata, the former capital of India, is today a hub of cutting-edge education and culture. It features Western colonial architecture at spots like the Victoria Memorial, a white marble monument to Queen Victoria boasting essential colonial designs, and St. Paul’s Cathedral, a majestic Indo-Gothic church. 

Chennai acts as a gateway to southern India, welcoming visitors with its Marina Beach, the second-largest urban beach in the world, and a kaleidoscope of religious sites.

“Bridging travel between our two nations will promote tourism and business, bolstering our economies. We believe these routes will meet the needs of the Indian people, international travellers in Thailand, and the Thai people themselves looking to make their way to India,” Santisuk explained.

AirAsia Thailand now flies to 12 cities in India: Kolkata, Chennai, Jaipur, Kochi, Bangalore, Gaya, Lucknow, Ahmedabad, Guwahati, Visakhapatnam, Tiruchirappalli, and the newest addition, Hyderabad. It offers 67 flights per week between the two countries.

Emirates names head of Swiss ops

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TTR WEEKLY
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Sea of cloud

DUBAI, 1 August 2024: Emirates has appointed Mohammad Lootah as its new Country Manager for Switzerland, based at Emirates’ Zurich office.

He will oversee the airline’s overall business in Switzerland, including sales and service functions for passenger and airport operations. Emirates operates double-daily flights between its two gateways, Zurich and Geneva, and its global Dubai hub. 

Mohammad Lootah Country Manager Switzerland.

The UAE national Mohammad Lootah has been with Emirates since 2016 and has served in several management capacities around the Middle East region, including Dubai, Riyadh, Kuwait and Jordan. His most recent position was Area Manager in Israel. He reports to Thierry Aucoc, Senior Vice President of Commercial Operations in Europe and the Russian Federation.

Mohammad Lootah succeeds Juerg Mueller, who played an integral role in supporting Emirates’ successful operations in Switzerland throughout the 16 years of his service.

Emirates has been part of Swiss skies, cities and communities for over 30 years, from when the airline commenced flights to Zurich in August 1992. With four daily nonstop flights out of Zurich and Geneva, Emirates provides global connectivity from and into Switzerland with one stop in Dubai. 

Flights to and from Switzerland operate with a mix of A380 and B777 wide-body aircraft. Emirates SkyCargo is pivotal in strengthening trade links between Switzerland and the world, offering a daily belly-hold cargo capacity of 100 tons. By mid-August, Geneva will become the first Emirates destination globally to be served by fully refurbished Boeing 777s with a retrofitted four-class cabin, including, for the first time in continental Europe, Emirates Premium Economy Class and – a world debut – the next-generation 777 Business Class seats in a 1-2-1 configuration.

For airline information and to make bookings visit www.emirates.com.

Mission promotes Sarawak’s gateway status

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TTR WEEKLY
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KUCHING Sarawak, 1 August 2024: Led by the Sarawak Tourism Board and supported by event promotions specialist BESarawak, the ‘Sarawak Gateway to Borneo’ Business Networking Sessions unfolded in Kuala Lumpur and Johor Bahru last week.

The start-up session, organised by the Sarawak Tourism Board (STB) and partnered with the Malaysian Association of Tour & Travel Agents (MATTA), aimed to position Sarawak as the gateway to Borneo and a transit point for Asian travellers.

Team Sarawak presents a Borneo gateway message in Kuala Lumpur. Photo credit: BESarawak.

“A primary objective of the campaign is to position Sarawak as a major entry point for travellers to Borneo, with Sarawak being the gateway to a world of unparalleled experiences, including Kalimantan, Sabah, and Brunei,” said STB’s Director of Marketing (ASEAN & Domestic) Barbara Benjamin Atan.

The roadshow moved to its second venue in Johor Bahru, where the Sarawak tourism team conducted a wrap of the ‘Sarawak Gateway to Borneo’ Business Networking Session for the travel trade and corporate event organisers to unlock new business opportunities from Peninsular Malaysia. BESarawak reported that the Sarawak Tourism Board and MATTA teams made both events possible.

The wrap-up session in Johor completed the mission. Photo credit: BESarawak.

For more information on planning an event in Sarawak visit: https://businesseventssarawak.com.

For more information on exploring Sarawak visit: www.sarawaktourism.com 

Fuson Hotel Group expands portfolio

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TTR WEEKLY
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SINGAPORE, 1 August 2024: HIIVE by fusion Binh Duong New City, the latest hotel in Fusion Hotel Group’s expanding portfolio, is now open in the industrial and logistics hub of Binh Duong in southern Vietnam.

Located in the heart of the Vietnam Singapore Industrial Park 2 (VSIP 2), the new 175-room hotel is located just 38 km north of Tan Son Nhat International Airport in Ho Chi Minh City, near Hikari Complex, Binh Duong New City Park and the Binh Duong World Trade Centre Association.

HIIVE by fusion Binh Duong New City follows the launch last year of another Fusion property, HIIVE by fusion Binh Duong, which is situated in VSIP 1. The Vietnamese government has forecast economic growth of 9 to 10% per year in Binh Duong from now until 2030.

Travelport and Finnair upgrade travel content

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TTR WEEKLY
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SINGAPORE, 1 August 2024: Travelport, a technology company that powers global travel bookings and suppliers worldwide, and Finnair have enhanced their long-term relationship with a multi-source content agreement covering New Distribution Capability (NDC) and traditional content.

The agreement confirms that Travelport’s agency customers will have access to robust multi-source content from Finnair, including ancillary services. The companies are collaborating to deliver Finnair’s NDC content and servicing capabilities through the Travelport+ platform.

“Our agreement with Travelport underscores our shared focus on providing more value and better experiences for travellers when they shop and book Finnair,” said Finnair Vice President of Global Sales and Channel Management Jenni Suomela. “This collaboration with Travelport will elevate our NDC program as we continue to scale and drive adoption among agencies and travel retailers.”

Travelport+ has thousands of agencies in more than 178 countries that can search, sell and service NDC content using Travelport’s APIs, Smartpoint Cloud and Smartpoint desktop agency point-of-sale solutions.

Traveloka opens EPIC Sale

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TTR WEEKLY
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BANGKOK, 1 August 2024: There are countless reasons to travel and among them are numerous promotions from the Traveloka EPIC Sale, along with insider tips on flight tickets, hotels, experiences, and other travel products. 

This year’s EPIC Sale builds on the record-breaking twofold increase in sales compared to the same period in 2022. This remarkable success inspired more promotions and travel opportunities this year. By engaging with thousands of partners in the tourism industry — including airlines, accommodations, and local attractions — the 2024 campaign underscores the company’s commitment to promoting international tourism.

Traveloka CEO Transport Iko Putera.

Traveloka CEO Transport Iko Putera said: “We understand that everyone has a special dream vacation. Traveloka presents the EPIC Sale to inspire and make it easier for consumers to realise their dream vacations affordably and without hesitation through a wide range of comprehensive travel product offers. Traveloka can be a reliable partner for our Thai consumers at every step of their journey because we believe that every trip is a precious opportunity to create unforgettable memories.”

Traveloka users have until midnight on 11 August to access promotions for a more complete and budget-friendly world travel experience. 

Best offers from the Traveloka EPIC Sale 

Super EPIC Deal
In addition to EPIC Deal & EPIC Hour Deal, Traveloka will present the Super EPIC Deal with even more fantastic promotions on selected products. With the Super EPIC Deal, round-trip flights to Hong Kong and Singapore with Cathay Pacific Airlines or Qatar Airways are more affordable, with up to 50% discounts. You can also enjoy a relaxing stay at the five-star Hotel with up to 80% discount. Create unforgettable memories with your family at Universal Studios Japan or meet your favourite characters at Hong Kong Disneyland with up to 50% discounts.

EPIC Deal
EPIC Deal offers discounts of up to 80% on flight tickets, hotels, experiences, and other travel products all day long.

EPIC Hour Deal
EPIC Hour Deal provides additional discounts and exclusive offers for hotel bookings every day from 1800 to 2100.

Mark the best time to plan a vacation

Timing is everything when booking travel products. For the best deals, book your travel well before your departure date. This will help you save money and allow for more thorough trip planning.

Salt Lake City hosts 2034 Winter Games

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TTR WEEKLY
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SINGAPORE, 1 August 2024: The International Olympic Committee (IOC) officially awarded Salt Lake City, Utah, the host contract for the 2034 Olympic and Paralympic Winter Games.  

After 32 years and over a decade in the making, the Winter Games will return to Utah and be held in America for the fifth time.

tah Governor Spencer Cox speaks about Salt Lake City’s bid to host the 2034 Winter Olympics during the 142nd IOC session at the 2024 Summer Olympics on Wednesday in Paris, France.

“The Olympics and Paralympics represent so much more than competition. At its core, the Olympic movement is about building community and celebrating excellence, things we do really well in Utah,” said Governor Spencer Cox. “More than 80% of Utahns and 100% of elected leaders supported our Olympic bid. We’re ready to host another Winter Games, and we can’t wait to welcome the world back to Utah in 2034.”

Utah has a living Olympic legacy. Since 2002, Utah has been dedicated to maintaining every Olympic venue and has become a vital training site for the US and international athletes. Athletes from over 30 nations have regularly trained in Utah, taking advantage of world-class facilities and training venues.

Utah set Olympic attendance records in 2002, selling more than 1.5 million tickets and having more than 70,000 fans per day — the highest attendance ever for a Winter Games. The 2002 Winter Games had 2.1 billion viewers in 160 countries and territories and amassed 13.1 billion viewer hours, breaking records for broadcast, ticketing, and sponsorship at the time. During the Games, Utah had 22,000 volunteers and 2,399 athletes.

The Olympic Games will be held in Utah from 10 February to 26 February 2034, and the Paralympics from 10 to 19 March 2034.

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