|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 district, Hanoi, Vietnam|
|Key people||Nguyen Thi Phuong Thao|
|Revenue||40.414 Billion VNĐ ( 1,722 billion USD )|
|Total assets||68.000 billion VNĐ ( 2,557 billion USD )|
VietJet Aviation Joint Stock Company (Vietnamese: Công ty Cổ phần Hàng không VietJet), trading as VietJet Air (or simply Vietjet), is a Vietnamese low-cost airline based in Hanoi. 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 district, 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, as well as unresolved branding conflicts with the Civil Aviation Administration of Vietnam (CAAV).
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 rescinded its plans in October 2011, citing "a failure to obtain Vietnamese regulatory approvals".
By February 2011, VietJet was said to be "completing final stages" prior to launch before its operation license expired in June. 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.
In 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.
In June 2015, at the Paris Air Show, VietJet ordered six additional Airbus A321 single-aisle jets worth $682 million at list prices from Airbus to meet demand on some of its busiest routes; VietJet purchased a further 30 later that year at the Dubai Airshow, which included 21 A321neos along with 9 A321ceos. In May 2016 during a state visit of US President Barack Obama, an order for 200 Boeing 737 MAX aeroplanes was signed, with deliveries to start in 2019. In September 2016, CEO Nguyen Thi Phuong Thao announced an order for 20 A321 single-aisle aircraft from Airbus. The signing took place during a state visit of French President Francois Hollande. During the 2018 Farnborough Airshow, Thai VietJet, VietJet's Thai subsidiary, ordered 100 Boeing 737 MAXs (80 MAX 10s and 20 MAX 8s) and 50 A321neos.
VietJet completed its initial public offering (IPO) on the Ho Chi Minh City Stock Exchange (HOSE) on 28 February 2017 at an initial price of VND 90,000 (US$ 4.02) per share. The share price immediately rose by 20%, the maximum allowed for newly listed companies. The airline raised $167 million from the listing, making it the biggest IPO on the Vietnamese stock market to date and accounting for 1.5% of HOSE's capitalization at the time.
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 January 2023[update], VietJet Air operates the following aircraft:
|7||240||240||Equipped with Airbus Cabin Flex configuration.|
|Boeing 737 MAX 8||—||66||TBA||The first 50 aircraft will be transferred to the Thai subsidiary|
Deliveries from 2024 to 2028.
|Boeing 737 MAX 10||—||106||TBA|
|Boeing 737 MAX 200||—||28||TBA|
VietJet Air offers three service options (fares):
Since commencing operations, VietJet Air has only suffered non-fatal incidents: