|Founded||30 November 2007|
|Commenced operations||25 December 2011|
|Frequent-flyer program||Vietjet Skyclub|
|Subsidiaries||Thai Vietjet Air|
|Parent company||Sovico Holdings, HDBank|
|Traded as||HOSE: VJC|
|Headquarters||Ba Đình, Hanoi, Vietnam|
|Key people||Nguyen Thi Phuong Thao (CEO)|
VietJet Aviation Joint Stock Company (Vietnamese: Công ty Cổ phần Hàng không VietJet), trading as VietJet Air or Vietjet, is an international low-cost airline from Vietnam. It was the first privately owned new-age airline to be established in Vietnam, being granted its initial approval to operate by the Vietnamese Minister of Finance in November 2007. As of its launch in December 2011, it became the second private airline to offer domestic service in Vietnam, as well as the fifth airline overall to offer civil domestic flights. VietJet Air is owned by Sovico Holdings, HDBank, other organisational investors, and individual stakeholders.
The carrier's launch was beset by long delays attributed to various causes, such as a global economic slowdown and regulatory issues. Despite the setbacks, VietJet Air's first flight was operated on 25 December 2011, flying from Ho Chi Minh City to Hanoi. The carrier carried its 10 millionth passenger in December 2014, and the 25 millionth passenger in December 2015.
The airline has its head office in the Vạn Phúc Diplomatic Corps in Ba Đình, Hanoi It was the first privately owned airline to be established in Vietnam, and as of its launch in December 2011, it became the second private airline (after Air Mekong) to offer domestic service in Vietnam, as well as the fifth airline overall not counting Indochina Airlines, which ceased operations in November 2009 to offer civil domestic flights, after Vietnam Airlines, Pacific Airlines, Air Mekong and the Vietnam Air Service Company (VASCO). In its initial plan, the Hanoi-based airline stated its intention to offer flights to Ho Chi Minh City and Da Nang, gradually expanding its network to include other Asian destinations, such as Hong Kong, Bangkok, Singapore, and cities in southern China. The airline's president and CEO is Nguyen Thi Phuong Thao from December 2011.
Initially, VietJet had shown the intention to commence flights in late 2008 or early 2009. Throughout the next few years, the expected launch date was repeatedly pushed back, first to late 2009, then mid-2010. Airline officials gave different reasons for the delays, including increased fuel prices and other financial problems. Later news reports from the state-controlled Vietnam News Agency echoed these initial reports, stating that "the airline's four-year delay in takeoff was due to the global economic crisis", referring to the late-2000s global financial crisis.
Although Malaysian budget carrier AirAsia announced in February 2010 that it planned to purchase a 30% stake in the airline through a joint venture agreement, the carrier later rescinded its plans, citing "a failure to obtain Vietnamese regulatory approvals". By mid-2010, a date of October 2010 was being given for the maiden flight, with officials stating the additional delay was due to unresolved branding conflicts with the Civil Aviation Administration of Vietnam (CAAV).
By February 2011, VietJet was said to be "completing final stages" prior to launch before its operation license expired in June. In March, AirAsia reportedly indicated it might withdraw funding from VietJet if the airline was unable to resolve its branding issues before the June deadline. Indeed, in October 2011, AirAsia announced it was calling off its plans to form a joint venture with VietJet, citing "a failure to obtain Vietnamese regulatory approvals", including the permission to use the AirAsia brand in the airline's commercial operations. Despite the collapse of the AirAsia joint venture, VietJet announced in November that its launch plans would proceed.
The airline's maiden flight was eventually launched on 25 December 2011, flying from Ho Chi Minh City to Hanoi.
The Vietnam aviation authority fined VietJet Air US$960 in 2012 for organizing five women of candidates in a local beauty contest to perform a Hawaiian themed-dance without first gaining permission to celebrate its maiden flight to the tourist hub of Nha Trang.
On 9 February 2013, the airline launched its first international flight between Ho Chi Minh City and Bangkok, becoming the first Vietnamese private airline to enter the international market.
As a low-cost carrier (LCC) Vietjet does not have any direct booking capabilities with the Global Distribution Service (GDS) companies, Amadeus CRS, Sabre, or Travelport. This lack of connectivity limits the ability of the airline to attract interline connecting passengers for inbound and outbound flights. The problem is due in part to the lack of the airline joining Iata's Vietnam BSB which regulates the IATA accredited airlines banking settlement operations in the country. To get around the issue Vietjet has utilised an interline ticketing partner, Hahn Air (HR), which allows for ticketing in more than 194 jurisdictions, but excludes ticketing in Vietnam. In August 2016 Hahn Air announced that they could provide ticketing for domestic Vietnam flights on Vietjet via the Amadeus platform, effectively locking out the other GDS systems for domestic ticketing in Vietnam.
On 11 February 2014, at the opening of that year's Singapore Air Show, the airline firmed up orders with Airbus for 60 A320 aircraft at a list price of $6.4 billion. Previously, the airline had signed a Memorandum of Understanding with Airbus for 92 planes in the A320 family.
On 17 June 2015, at the Paris Air Show, Vietjet ordered six additional Airbus A321 single-aisle jets worth $682 million at list prices from Airbus to meet demand on some of its busiest routes. On 10 November 2015 at the Dubai Air Show, Vietjet placed a further order for 30 A321s with Airbus. The deal reportedly includes 21 A321neos along with 9 A321ceos. At the same time, the airline confirmed the leased of 10 A319s from Air Berlin with delivery from 2016 to 2017, however, the A319 order was later cancelled and the airline decided to upgrade them to the larger A321s.
On 23 May 2016 during a visit of President Obama, an order for 200 Boeing 737 MAX aeroplanes was signed with deliveries to start in 2019. On 6 September 2016, CEO Nguyen Thi Phuong Thao announced an order for 20 A321 single-aisle aircraft from Airbus. The signing took place during the visit of French President Francois Hollande.
During the 2018 Farnborough Airshow, Vietjet signed two MLUs, one with Boeing on July 18 consisted of 100 Boeing 737 MAXs (80 MAX 10s and 20 MAX 8s), and the other with Airbus on July 19, consisting of 50 A321 NEOs.
On 28 February 2017, Vietjet completed its public listing and officially became a fully listed entity on the Ho Chi Minh City Stock Exchange (HOSE), making it the first airline in Vietnam to be listed on the bourse.
The airline's market capitalization stood at $1.2 billion, accounting for 1.5 percent of HOSE's capitalization as of 15 February 2017.
With its public listing, Vietjet became the first Vietnamese firm to have completed an IPO that meets Securities Act of 1933 standards and practices.
BNP Paribas, Deutsche Bank, and JP Morgan Chase were the IPO's foreign joint global consultants.
Vietjet Air was a launch customer of the A321neo in Southeast Asia with first deliveries in December 2017.
According to pre-audited financial statements for 2019, Vietjet's air transport revenue reached VND41,097 billion. Profit before tax of air transport rose to VND3,936 billion, an increase of 21.4% in revenue and 29.3% in profit before tax year-on-year. Accumulated revenue was VND52,059 billion and consolidated profit was VND5,010 billion. Vietjet's total assets increased to VND47,608 billion, and equity rising to VND17,661 billion, an increase of 26% year-on-year.
Main article: List of VietJet Air destinations
VietJet Air serves 18 domestic and 26 international destinations.
VietJet Air codeshares with Japan Airlines and its subsidiary Thai Vietjet Air.
As of March 2022[update], VietJet Air operates the following aircraft:
|240||240||Equipped with Airbus Cabin Flex configuration.|
|Airbus A330-300||2||1||12||365||377||Powered by Rolls-Royce Trent 700 engines|
|Boeing 737 MAX 8||—||20||TBA|
|Boeing 737 MAX 10||—||80||TBA|
|Boeing 737 MAX 200||—||100||TBA|
The average fleet age as of March 2022 is 5.5 years
VietJet Air offers three service options (fares):
Since commencing operations, VietJet Air has only suffered from non-fatal incidents: