VietJet AirAsia : : VJC:

AirAsia is proud to announce its acquisition of a 30% equity stake in Vietjet Aviation Joint Stock Company (VietJet Air) to establish a Vietnam-based joint venture low-cost airline which will carry the name Vietjet AirAsia.

The Ministry of Transportation of Vietnam approved the share acquisition on February 9 (Tuesday).

VietJet AirAsia will be operating both domestic and international flights.

It is currently finalizing details regarding routes, frequencies and launch of flights.

The formation of VietJet AirAsia makes Vietnam AirAsia’s fourth country base, following Malaysia, Thailand and Indonesia.

AirAsia, Asia’s leading and largest low-cost airline, joined the venture to expand its reach in Vietnam and open the country as another gateway in the ASEAN region.

The joint venture strengthens AirAsia’s position as THE ASEAN airline, expanding operations in the region, increasing intra-regional connectivity, and championing the ASEAN region as a tourism hub.

“The birth of VietJet AirAsia contributes to the diversification of the aviation market in Vietnam, providing more
options to meet the air travel needs of people in Vietnam and in the region,” VietJet said. VietJet AirAsia will be tapping the expertise of both AirAsia and VietJet Air for the successful operation and marketing of low-cost flights.


“The joint venture is a well-balanced combination of the management system, technical expertise, long-term experience in the airline industry, crew and international brand of AirAsia, and the financial strength, as well as Vietnamese market insights of VietJet Air,” VietJet Air added.

AirAsia has informed Bursa Malaysia of its latest initiative.

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AirAsia and VietJet ink deal on Vietnamese low-cost
Malaysia's [Vous devez être inscrit et connecté pour voir ce lien] and Vietnam's VietJet have signed an agreement confirming a deal to start up a new low-cost carrier in Vietnam.
AirAsia bought a 30% stake in VietJet, which will launch VietJet AirAsia to operate both domestic and international services.
Malaysian prime minister Najib Razak and Vietnam's deputy prime minister Troung Vinh Trong witnessed the signing ceremony in Hanoi, and the airlines say that their presence reflects the significance of the deal.
"Their support is instrumental in our ability to offer low fares to the Vietnamese people and the international tourists who flock to Vietnam. VietJet AirAsia will complement the existing strengths of Vietnam's tourism industry and help turn the country into a tourism powerhouse," says AirAsia CEO Tony Fernandes.
VietJet CEO Nguyen Duc Tam adds that the carrier will benefit from AirAsia's expertise in the airline industry.
"With this agreement, VietJet Air can enjoy technical expertise, experience in quality assurance, safety and security up to international standard, high quality manpower in aviation industry with a roadmap for technology transfer to VietJet Air's staff, which contributes to raising the standards of services and safety and security in the airline market in Vietnam as well as in ASEAN region," he adds.

VietJet Aviation Joint Stock Company ([Vous devez être inscrit et connecté pour voir ce lien]: Công ty cổ phần hàng không VietJet), trading as VietJet Air, is a planned [Vous devez être inscrit et connecté pour voir ce lien] in [Vous devez être inscrit et connecté pour voir ce lien]. It received approval to proceed with its plans from the Vietnamese Minister of Finance in November 2007.
On February 2010, [Vous devez être inscrit et connecté pour voir ce lien] announced that it has purchased a 30% stake in the airline.
The company is based in [Vous devez être inscrit et connecté pour voir ce lien], and plans to fly to [Vous devez être inscrit et connecté pour voir ce lien] and [Vous devez être inscrit et connecté pour voir ce lien]. VietJet has stated an intent to eventually fly to other Asian countries, such as Singapore, China, Thailand, Korea, and Japan. It plans to use either [Vous devez être inscrit et connecté pour voir ce lien] or [Vous devez être inscrit et connecté pour voir ce lien], and commence flights in late [Vous devez être inscrit et connecté pour voir ce lien] or beyond.
In May 2008, the airline appointed [Vous devez être inscrit et connecté pour voir ce lien] as its Chief Executive Officer.
VietJet is the country's fourth airline, after [Vous devez être inscrit et connecté pour voir ce lien], [Vous devez être inscrit et connecté pour voir ce lien], and [Vous devez être inscrit et connecté pour voir ce lien]. It is the first to be 100% privately-owned.

VietJetAir will become Vietnam’s first private airline to open an international route on February 10, 2013 when the airline flies from Ho Chi Minh City to Bangkok.

This auspicious date is the first day of the New Lunar Year, so perfect timing for Vietnamese, Thai and foreign travelers planning to celebrate by travelling abroad during this festive season.

The route will start off with round trip per day initially with VietJetAir’s newly acquired Airbus 320. The one hour and 30 minute flight will depart from Ho Chi Minh City at around 11am and return from Suvarnabhumi Airport at 1:30pm.