Vector Aviation confident of Asian growth

Vietnam has been no exception to the global economic contagion and so too it is feeling the uptick in the economy which has sent shippers scrambling for air cargo capacity. For long-time GSSA, Vector Aviation, a solid market presence has translated to a healthy client list that has carried it through the crisis. Wong Joon San reports.

Like various other economies around the world , Vietnam’s economy has also seen a mini recovery from the global financial crisis in August and it is becoming stronger as the year ends, according to Do Xuan Quang managing director of Vietnam-based GSA, Vector Aviation.

In fact, recently there has been some persistent shortage in the air cargo capacity. “We think this sudden change may last till end of 2009 only. For example, previously you could hardly see a 100 per cent load factor during a long difficult period and now it is still there is continuing at the same rate.

“In addition to that, now many customers cannot wait and shippers who are facing high demand pressure are looking for charter flights which are not only costly but they are also scarce. We think the cargo flow will keep going till the end of 2009 for the North American and EU markets and maybe till the Chinese New Year for the Asian region.

“Then it may slow down in the first half of 2010 but the recovery trend will continue further in 2010. It is hard to believe and see that most exporters and shippers are now continuing to complain about a lack of cargo capacity for the goods carried out through their supply contracts such as footwear, garments and seafood,” Do says.