HCM CITY — The new-age airline Vietjet has been named by Forbes Magazine as one of the 40 most valuable brands in Việt Nam in 2018.
Forbes based the list on public transparent financial data.
Vietjet is one of the youngest brands to make the list. Since it took off in 2011, Vietjet has made positive changes to the air transport market.
In the past six months of 2018, Vietjet continued to lead domestic passenger travel and had the best flight growth of 59,944 flights, up nearly 22 per cent year-on-year.
Vietjet is participating at the third “Vietnamese Goods and Tourism Week in Thailand in 2018” being held in Bangkok until Sunday.
During the week, visitors will have opportunities to enjoy live dance performances, games, lucky draw prizes, free promotions and chances to win free flights around the region.
Vietjet currently operates six routes between Thailand and Việt Nam, including Bangkok-HCM City/ Hà Nội/ Hải Phòng/ Đà Lạt; Phuket-HCM City and Chiangmai-HCM City.
As part of Vietjet group, Thai Vietjet now has a fleet of five A320 aircraft that operate five domestic routes including Bangkok-Chiangmai/ Chiangrai/ Phuket/ Krabi and Phuket-Chiangrai.
“With an expanding flight network of six Thailand-Việt Nam routes and five Thai domestic routes, Vietjet proudly serves as an ambassador connecting local and international travellers between the two countries and beyond,” said the airline’s vice president, Nguyễn Thị Thúy Bình. — VNS
Vietjet, controlled by Vietnamese billionaire Nguyen Thi Phuong Thao, is moving to own wide-bodied jets for the first time as it eyes major expansion into long-haul destinations.
On Thursday, Airbus announced that it has signed a memorandum of understanding with Vietjet for the carrier to buy 20 A330-900 wide-bodies. The planes will replace the carrier’s current fleet of A330-300s, which are leased.
VietJet and Airbus didn't provide the contract value. The order could be worth about 5.9 billion, based on a 2018 price list published by Airbus. The aircraft manufacturer no longer publishes its prices.
The Airbus statement quoted Vietjet chief executive officer Dinh Viet Phuong as saying the A330neo aircraft would “comprehensively modernise Vietjet’s fleet”.
The MOU was signed at the Singapore Airshow. On Wednesday, also at the airshow, Vietjet said that it had chosen U.S.-based Pratt & Whitney to power 19 Airbus A321neo aircraft. Vietjet now operates a fleet of 24 A321neos, and is committed to eventually acquiring 87 of that aircraft.
Last year, Vietjet also reached a $25 billion deal with Boeing to deliver 200 737 MAX aircraft in the next five years, and it expects to receive 12 of the planes this year. As of last year, Vietjet had a fleet of 105 aircraft.
Vietjet flew 25.3 million passengers last year, an increase of 23% from the previous year. To meet the increasing demand, the airline added 33 routes last year, making the total 125. Some of the notable new routes are Ho Chi Minh-Shanghai and Hanoi-Hong Kong. The carrier reported revenue of 53.6 trillion Vietnamese dong [$2.1 billion] last year, a 62% jump from 2022.
Thao has a net worth of $2.4 billion and is ranked 1,334 in the world, according to Forbes Real-Time Billionaires Rankings. She launched the airline in 2011 and drew attention to it with advertisements featuring flight attendants wearing bikinis.
In 2017, the company was listed on Ho Chi Minh Stock Exchange, raising $170 million. Aside from the airline, Thao has investments in banking and real estate, including three beach resorts.
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