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Tag: Vietjet

  • Vietjet acquires 67 pct in express delivery startup

    Vietjet acquires 67 pct in express delivery startup

    Budget airline Vietjet has invested VND31.5 billion ($1.36 million) to acquire a 67 percent stake in shipping startup Swift247 which seeks to improve the linkage between air and road delivery.

    The company, co-founded by Tommy Nguyen, son of Vietjet CEO Nguyen Thi Phuong Thao, has a charter capital of VND47 billion. Its CEO, Ha Nang Viet, owns 26 percent of the company.

    The Ho Chi Minh City-based company, founded in 2019, delivers products between Southeast Asian destinations within 24 hours by combining air and road transport. Other delivery services take days.

    It offers a delivery time of as low as five hours between Hanoi and HCMC.

    The company also has a tie-up with ride-hailing company Grab.

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  • Vietjet earns $3 million profit despite pandemic

    Vietjet earns $3 million profit despite pandemic

    Budget airline Vietjet recorded a consolidated after-tax profit of VND70 billion ($3 million) in 2020 despite headwinds caused by the Covid-19 pandemic.

    This makes Vietjet one of the few airlines in the world that did not reduce its workforce, the carrier said in its latest financial statement.

    The second-largest airline in Vietnam in terms of market share reported consolidated revenues of VND18.2 trillion last year, down 64 percent year-on-year.

    According to its financial statement, ancillary revenue accounted for nearly 50 percent of Vietjet’s total revenue in 2020. The airline promoted ancillary services to offset decreasing air travel revenue, the statement noted.

    For instance, it increased the number of cargo flights to make up for dwindling revenues from passenger flights and increased the application of the self-service system at the Noi Bai International Airport in Hanoi to lower costs.

    Vietjet said it conducted 78,462 flights in 2020, down from 139,000 in 2019. The airline’s total assets were valued at over VND47 trillion as of last year.

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  • Vietjet eyes aircraft purchases as it relies on vaccine rollouts to revive air travel

    Vietjet eyes aircraft purchases as it relies on vaccine rollouts to revive air travel

    Budget carrier Vietjet Air plans to expand its investment in new aircraft and technical facilities this year after reporting a small profit in 2020 despite the Covid-19 pandemic.

    “In 2021, we expect to continue to receive new modern planes and will invest in maintenance and training facilities, and the investment will be higher than in 2020,” Vietjet CEO Nguyen Thi Phuong Thao said in an interview recorded on Jan. 9 and broadcast on Thursday at the Reuters Next conference.

    Vietjet said separately on Wednesday it raised $28 million via a bond issuance last month to fund its development plans in 2021. It did not provide further details about the bond sale.

    Vietnam has been successful in containing the coronavirus with a series of quarantine and tracking measures. With just over 1,500 infections and 35 deaths in total, it has resumed economic activities earlier than much of Asia.

    While all international commercial flights have been suspended since late March, domestic air travel has been subjected to few restrictions.

    Vietjet’s cargo transport in 2020 rose 75 percent from 2019, she said, adding that its overall domestic operations recorded positive growth in 2020, without giving comparative figures.

    With the early Covid-19 vaccine roll-out around the world, Thao expects the global aviation industry to recover rapidly.

    Vietjet’s Thai unit increased its aircraft fleet to 15 last year, while its market share there also increased, she added.

    “Air travel demand is extremely high for business, investment, education and healthcare purposes, and we have been actively conducting flights to repatriate Vietnamese people from overseas,” Thao said.

    She said the company is considering options to raise funds for its investment plans for this year, though she did not name an amount.

    “Our debt-to-equity ratio is 1.0, compared with over 3.0 for the aviation industry, so we have room to mobilize funds for our development,” Thao said.

    The airline continued to take delivery of Airbus SE narrow- body jets last year despite some supply chain interruptions at the manufacturer but Boeing Co did not meet its delivery schedule, she said.

    Vietjet has 200 737 MAX jets on order, according to Boeing, but the plane has not yet returned to service in Asia following a near two-year global grounding.

  • Vietnam jet fuel tax cut to continue through 2021

    Vietnam jet fuel tax cut to continue through 2021

    Lawmakers have decided to continue the 30-percent cut in environment tax on jet fuel through next year to support the aviation industry.

    It will remain at VND2,100 (9.1 U.S. cents) per liter until the end of next year before returning to VND3,000 in 2022, the National Assembly Standing Committee decided on Thursday.

    Deputies had originally approved the cut from August until the end of this year.

    The government’s loss of revenues is estimated at VND360-400 billion this year, but it expects the tax break to reduce airlines’ costs and help them recover from the crisis caused by the Covid-19 pandemic.

    Airlines have gone through major difficulties due to travel restrictions and limited international flights.

    Vietnam Airlines forecasts a loss of VND14.8 trillion this year, while for budget carrier Vietjet it is likely to be VND3 trillion.

    The aviation industry served 29.4 million passengers in the first 11 months, down 41.7 percent year-on-year, according to the General Statistics Office.

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  • Vietjet posts $39.8 mln loss

    Vietjet posts $39.8 mln loss

    Budget airline Vietjet has recorded a loss of nearly VND925 billion ($39.83 million) in the first nine months due to pandemic-imposed flight restrictions. The second-largest airline in Vietnam in terms of market share saw Jan-Sept revenues fall 64 percent year-on-year to VND13.78 trillion, according to its Q3 financial statement.

    Vietjet served over three million passengers in the third quarter and opened eight new domestic routes, bringing the total number of routes to 52.

    However, the second Covid-19 outbreak in the last week of July and throughout August brought down travel demand again, resulted in Q3 revenues falling nearly 80 percent year-on-year to VND2.8 trillion. The total number of domestic flights plunged 35 percent to just over 15,000 in this period.

    The budget carrier has been increasing the number of cargo flights to make up for dwindling revenues from passenger flights and increase the application of the self-service system at the Noi Bai International Airport in Hanoi to lower costs.

    Last year Vietjet posted a pre-tax profit of VND5.01 trillion, down 14 percent from 2018.

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  • Thai super-star singer Ying Lee’s concert in the sky spices up Thai Vietjet’s inaugural Bangkok – Khon Kaen flight

    Thai super-star singer Ying Lee’s concert in the sky spices up Thai Vietjet’s inaugural Bangkok – Khon Kaen flight

    Thai Vietjet today inaugurated its maiden flight VZ210 from Thailand’s capital airport of Suvarnabhumi to Khon Kaen, the country’s commercial and political centre in the Northeastern region. Celebrating the new service, Thai Vietjet gave passengers a memorable surprise with a ‘Ying Lee’ concert in the sky, complete with a full team of dancers and cabin crew, along with nice corporate souvenirs.

    In celebration of the new route, the airline also launched a mega promotion from just THB 5 for a one-way ticket (approx. US16 cents) (*) for booking throughout the five golden days of 1st – 5th August 2020 at their website or Vietjet Air mobile app. The special promotion tickets are applied for all Thailand domestic flights of Thai Vietjet traveling during 1st August – 30th September, 2020.

    Aiming to facilitate domestic travel in Thailand, Thai Vietjet has constantly increased its flight frequency and destinations from Bangkok Suvarnabhumi Airport. Currently, the carrier serves 8 flights/day to Phuket/Chiang Mai, 3 flights/day to Chiang Rai, 2 flights/day to Udon Thani/ Krabi/ Hat Yai/ Khon Kaen in which the flight frequency for Suvarnabhumi – Hat Yai service will be increased to 3 flights/day from 15th August 2020. The airline will also inaugurate the Suvarnabhumi-Nakhon Si Thammarat flight on 6th August 2020. It has also introduced on-line check-in service for domestic passengers traveling out of Suvarnabhumi airport for more convenience.

    The new route Bangkok- Khon Kaen marks the airline’s 7th route from its Suvarnabhumi hub and is operated 2 flights daily, with a flight duration of around 1 hour 5 minutes per leg as per the schedule below:

    Flight No. Departure from Suvarnabhumi Arrival at Khon Kaen Flight No. Departure from Khon Kaen Arrival at Suvarnabhumi
    (Local time) (Local time)
    VZ210 07.30 08.35 VZ211 09.05 10.15
    VZ212 15.45 16.50 VZ213 17.20 18.30
  • Vietjet recognized as most impactful Vietnamese brand worldwide

    Vietjet recognized as most impactful Vietnamese brand worldwide

    Vietjet has achieved another major accolade – winning the ‘Vietnam Brand, Global Impact’ award under the PR Newswire Awards 2020 in recognition of its achievement as a trailblazer in expanding its flight network and brand name proven by creative, meaningful and inspiring activities across the globe.

    The prestigious award is judged by a panel comprising international experts and leaders in the communications and public relations industry.

    Speaking at the award ceremony, Vietjet Group’s Vice President Nguyen Thi Thuy Binh said: “With our mission of constantly expanding our flight network across Asia and boosting trade activities globally, Vietjet has been an inspiring ambassador to bring Vietnam to all international friends as well as contribute towards global tourism and economic development. We achieved this thanks to our expanding network with over 200 routes, more than 100 million passengers transported to-date, many large-scale business deals signed with international partners as well as tens of thousands of jobs created in Asia, Europe and America. We are proud that Vietjet, a Vietnamese brand in the aviation industry, has been favored by millions of customers and partners and has truly become the inspiration for the young generation around the world.”

    Vietjet is also one of the few enterprises and only Vietnamese carrier that brings its brand beyond the country’s border to add more value and inspire others in the international market. In Thailand, Vietjet has established Thai Vietjet, leveraging the Vietnamese brand name of Vietjet.  The carrier has extended both the domestic and international flight network with its base in Suvarnabhumi Airport, Thailand’s largest and busiest airport. The airline has transported more than eight million passengers in Thailand and other countries to famous destinations across the Land of Smiles. It has been welcomed and trusted by the country and people of Thailand.

    The 2020 awards is hosted by PR Newswire, a Cision Ltd. Company which is a leading global provider of news distribution and earned media software and services. It has the world’s largest media distribution network, covering over 300,000 media outlets in more than 170 countries and over 40 languages.

  • Thai Vietjet offers super-saver fares from THB50 for all 13 routes in Thailand

    Thai Vietjet offers super-saver fares from THB50 for all 13 routes in Thailand

    In celebration of its new routes in Thailand, Vietjet has kicked off a special promotion offering 500,00 air tickets priced from THB 50 (*) (USD 1.5) starting from now to 17 July 2020 during the golden hours of 1.00pm to 3.00pm (Malaysian time).

    Here’s your chance to plan ahead for a perfect Thailand trip! The promotional tickets are applicable on all of its 13 domestic routes in Thailand and valid for travel between 1 September 2020 to 30 June 2021 (**). Tickets can be booked via Vietjet’s website and mobile application Vietjet Air.

    “We are happy to bring in more flying opportunities for the people to discover the “Smiling Land” with amazing experiences. This is a perfect chance for Thai people to go on a tour within Thailand with their families and friends. We are committed to expanding flight network in domestic Thailand and continuously provide exciting experiences to our passengers with daily promotion program”, said Vietjet Vice President, Nguyen Thi Thuy Binh.

    The recently announced six new Thailand routes expand Thai Vietjet’s domestic routes to 13, allowing tourists to travel conveniently around the country. This super promotion is applicable to all Thai Vietjet’s domestic routes in Thailand from Bangkok (Suvarnabhumi) to Chiang Mai, Chiang Rai, Phuket, Krabi, Udon Thani, Phuket – Chiang Rai, and Udon Thani – Chiang Rai, including new routes from Bangkok (Suvarnabhumi) to Hat Yai, Khon Kaen, Nakhon Si Thammarat, Ubon Ratchathani (starting from 6 October 2020),  Surat Thani (starting from 4 November 2020), Chiang Rai – Hat Yai  (starting from 1 November 2020).

    Currently, Vietjet is operating a stable domestic network in Vietnam and Thailand. All Vietjet’s flights are in alignment with all global standards and guidelines from the local authorities, including aircraft disinfection.

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  • Vietjet honoured for “the Operating Lease Deal of the Year”

    Vietjet honoured for “the Operating Lease Deal of the Year”

    New-age carrier Vietjet has been honoured as the winner of “the Operating Lease Deal of the Year” for its 10 Airbus aircraft operating lease in 2019. The title is listed in the Annual Global Awards of the world’s prestigious aviation and aerospace finance industry magazine,Airfinance Journal.

    The deal, which was signed between Vietjet and Novus Aviation Capital in July 2019, covers five aircraft (three A321s and two A321neos) delivered in 2019 while the five remaining aircraft are scheduled for delivery this year.

    The award recognised Vietjet’s benefits from the transaction including the flexibility in financing structure, attractive pricing of the lease, repeat documentation, and aircraft delivery schedule.

    “The award is an acknowledgement of Vietjet’s relentless efforts in aircraft financing activities, which sets a strong base for the airline’s sustainable investment and development of new and modern fleet in the coming years,” said Ho Ngoc Yen Phuong, Vietjet Vice President and CFO.

    Vietjet was also previously listed in the Top 50 airlines for healthy financing and operations for two consecutive years of 2018 and 2019 by Airfinance Journal. It is the only Vietnamese carrier in the list, which showed the airline’s positive finance and growth indicators amongst top airlines worldwide.

    Published for more than 40 years, Airfinance Journal is a leading financial publication in the global aircraft and aviation business, headquartered in London. The Journal includes the latest news, analysis and data relating to the financing of aviation industry globally, covering airlines, airports, banks and financial institutions, leasing companies and others.

    Vietjet has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website, AirlineRatings.com. The airline has also been named as Best Low-Cost Carrier by renowned organisations such as Skytrax and CAPA in recent years.

  • Thai Vietjet offers THB9 promotional tickets for flights from August

    Thai Vietjet offers THB9 promotional tickets for flights from August

    Thai Vietjet is offering more than a million promotional tickets priced from only THB9 (approximately USD 28 cents) (*) for Thailand flights from August. Passengers can book the promotional tickets on Vietjet’s website from 27 April to 3 May 2020. Tickets are valid for travel between 1 August to 31 December 2020.

    The promotional tickets are applicable for all routes from Da Nang and Da Lat in Vietnam to Bangkok (Suvarnabhumi airport), and from Ho Chi Minh City in Vietnam to Udonthani. This also includes Thailand’s domestic routes from Bangkok (Suvarnabhumi airport) to Chiang Mai, Chiang Rai, Phuket, Krabi, Udon Thani, from Phuket to Chiang Rai, and from Udon Thani to Chiang Rai.

    More detailed information about the flight schedules will be available on Vietjet’s official channels including Vietjet’s website, hotline (19001886), official Facebook page, ticket offices and official agents of Vietjet. Payment can be easily made with Visa/ MasterCard/ AMEX/ JCB/ KCP/UnionPay cards.

    Vietjet is currently offering Power Passes that allows its holders to take unlimited flights within Vietnam. The two Power Pass options include the Power Pass Sky6 priced at VND8,999,000 (approximately USD 382) (*) for unlimited domestic flights until the end of 30 September 2020, and the Power Pass Sky12 priced at VND16,999,000 (approximately USD 724) (*) for unlimited domestic flights until the end of 31 March 2021.

    To improve public health and prevent the spread of COVID-19, Vietjet conducts disease prevention, thorough health check procedures for all passengers and crew before all flights and follows all mandatory requirements such as the wearing face masks. All Vietjet flights are in alignment with all global standards and guidelines from the local authorities, the World Health Organization and the International Air Transport Association (IATA) to ensure the health and safety for passengers, flight crew and the community.

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  • Vietjet to venture into cargo business in Malaysia

    Vietjet to venture into cargo business in Malaysia

    In order to enhance and further develop its cargo network, the new-age carrier Vietjet is pleased to announce that its subsidiary and cargo arm, Vietjet Cargo is opening a tender for a cargo General Sales Agent (GSA) in Kuala Lumpur and is inviting companies to bid for the first time in Malaysia on February 2020.

    The GSA will be responsible for all the commercial activities for sales, marketing and promotion on Vietjet’s flight network connecting to over 400 flights daily covering more than 140 destinations across Vietnam and internationally such as Malaysia, China, Japan, Korea and Taiwan, etc. which includes a daily flight from Kuala Lumpur to Ho Chi Minh City.

    The GSA will also be actively controlling the pricing policy and space management, working with the cargo warehouse and ground handling agency, supervising the operations, maximizing the uplifted cargo and securing the service level commitment to clients directly.

    Nguyen Thanh Son, Vietjet Vice President, said: “At Vietjet, we believe in diversification to create sustainable business prospects. Following the establishment of Vietjet Cargo in 2014, we have independently and strategically developed and grown demand for air cargo services in Vietnam in addition to our main function as a commercial airline. Today, we have grown internationally, taking the necessary steps to expand our cargo business to the Malaysian market.

    To-date, Vietjet has transported nearly 100 million passengers in Vietnam with a fleet of 80 Airbus aircraft, comprising the Airbus A320/A321 aircraft, a world-class high-tech airplane in the aviation industry, with a capacity of four to five tons of cargo per flight and more.

    Moving forward, Vietjet will continue to work towards the establishment of its subsidiaries in the aviation industry worldwide, bringing a wide range of services and business opportunities to potential partners not only in Malaysia, but also in other countries while expanding Vietjet’s flight network globally.

  • Vietjet suspends all China flights

    Vietjet suspends all China flights

    Vietjet will stop all flights to and from China starting Saturday to try and limit the spread of the deadly coronavirus.

    The budget airline said in a statement Friday that it had prepared this plan earlier, and will cooperate with Vietnamese authorities and the World Health Organization (WHO) in taking steps to prevent the spread of the nCoV among its crew members and passengers.

    Vietjet is the first Vietnamese airline to stop China flights. At the time of writing, Vietnam Airlines and Jetstar Pacific were still operating flights to China.

    Globally, British Airways was the first airline to suspend all direct flights to and from China. Other carriers such as U.S.-based United Airlines and Indonesia-based Lion Air have suspended flights to certain Chinese cities.

    The Civil Aviation Authority of Vietnam Wednesday ordered local airlines to stop all flights between Vietnam and infected locations in China.

    The Ministry of Health confirmed Thursday that three Vietnamese have tested positive for the nCoV. One is being treated at the Thanh Hoa General Hospital in the eponymous central province and the others at the National Hospital of Tropical Diseases in Hanoi.

    As of Friday, there were five confirmed cases of infection in Vietnam. The first cases of nCoV infection detected in the country were a Chinese father and son duo. The son has recovered.

    The World Health Organization (WHO) on Friday declared a global health emergency as the death toll reached 213, all of them in China.

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  • Vietjet Receives New 240-Seat A321neo ACF Aircraft

    Vietjet Receives New 240-Seat A321neo ACF Aircraft

    Vietjet has received two new Airbus A321 aircraft, registered as VN-A521 and VN-A542, on 31 December 2019 at Tan Son Nhat International Airport. The total number of aircraft in Vietjet’s fleet is now 80, and the VN-A521 aircraft is the third 240-seat A321neo ACF (Airbus Cabin Flex) aircraft in the world, with the two first of its type already being operated by Vietjet. With the arrival of the new aircrafts in the end of 2019, the new-age carrier is ready to meet the high travel demands during the festive period of Lunar New Year, as well as its fleet expansion plans in 2020.

    The new aircraft features leather seats and premium interiors. In particular, Vietjet’s third A321neo ACF aircraft has an innovative cabin structure to increase the total number of seats to 240. It also features the advantages of most modern Airbus aircrafts, including comfortable seat zones, fuel consumption savings of a minimum of 16 per cent, noise reduction of up to 75 per cent and emissions reduction of up to 50 per cent.

    Vietjet currently owns one of the world’s newest and most modern fleets with an average age of only 2.7 years. Vietjet has currently transported nearly 100 million passengers, with 130 routes covering destinations in Vietnam and international routes to Singapore, India, Japan, Hong Kong, South Korea, Taiwan, Thailand, Myanmar, Malaysia, China, Indonesia and Cambodia.

     

     

  • Vietjet CEO among world’s 100 most powerful women

    Vietjet CEO among world’s 100 most powerful women

    Vietjet Air CEO Nguyen Thi Phuong Thao is one of 100 most powerful women in the world this year, according to a Forbes listing. The only Vietnamese woman on the list, Thao was placed 52nd, down eight places from last year. This is the third year in a row she has been included in Forbes magazine’s list of 100 most powerful women in the world.

    The list was compiled based on assets, impact, spheres of influence and media presence, the magazine said.

    It estimated that the budget carrier CEO and the richest woman in Vietnam to have a net worth of around $2.7 billion as of December 13.

    Thao, 49, has done business in Vietnam and abroad in many fields, including finance, banking, aviation, real estate, and retail.

    She launched Vietjet in 2011. The airline now leads the domestic market with a 45 percent share. It operates 385 flights daily within Vietnam and to Japan, Hong Kong, South Korea, Taiwan, Singapore, mainland China, Thailand, Myanmar, and Malaysia.

    The carrier launched its IPO on the Ho Chi Minh City Stock Exchange in February 2017, becoming the first airline in Vietnam to list publicly.

    Vietjet has now surpassed national flag carrier Vietnam Airlines in terms of passengers carried. It has a fleet of 80 aircraft flying to 120 destinations.

    German Chancellor Angela Merkel was adjudged the most powerful woman in the world for the ninth consecutive year. She was followed by French politician Christine Lagarde, who serves as the President of European Central Bank, and Speaker of the U.S. House of Representatives Nancy Pelosi.

  • Vietjet Announces New Routes to Seoul to Celebrate 30th Anniversary of ASIAN – South Korea Relations

    Vietjet Announces New Routes to Seoul to Celebrate 30th Anniversary of ASIAN – South Korea Relations

    To celebrate the 30th anniversary of the relations between the Association of Southeast Asian Nations (ASEAN) and South Korea, as well as the recent Mekong – South Korea summit, new-age carrier Vietjet has announced plans for new routes that will connect some of Vietnam’s largest and fast-growing tourist destinations, such as Da Lat, Can Tho, Nha Trang and Phu Quoc with Seoul.

    The announcement ceremony took place during the Vietnam – South Korea Business Forum on 28 November 2019 in Seoul, South Korea, and was attended by Prime Minister of Vietnam Nguyen Xuan Phuc, Deputy Prime Minister of South Korea Hong Nam-Ki and senior leaders from both the South Korean and Vietnamese governments.

    Connecting Seoul, the dynamic capital of South Korea, with Dalat in Vietnam’s Central Highlands, Can Tho in Southwest Vietnam’s Mekong Delta, Nha Trang on the south-central coast of Vietnam and Phu Quoc, also known as Vietnam’s “Pearl Island”, means that Vietjet’s new routes will boost tourism and trade in the two regions. It will also boost cultural exchanges between the two countries while forging closer ties between South Korea and ASEAN, one of the world’s fastest-growing economic blocks.

    Starting from January 2020, the new Seoul (Incheon) – Can Tho route is planned to operate three return flights per week, while the new Seoul (Incheon) – Da Lat route will fly four return flights per week, each with a flight time of more than five hours per leg. The two current routes linking Seoul (Incheon) to Nha Trang and Phu Quoc will also increase frequencies to meet the increasing passenger demands.

    Speaking at the ceremony announcing the launch of the new routes, Vice Chairman of Vietjet Nguyen Thanh Hung thanked the governments of Vietnam and South Korea for creating opportunities for business investment and cooperation between the countries. He also pledged that the airline will continue its mission to offer more flights with new upcoming routes with Vietjet’s modern fleet. He added that all Vietjet passengers can look forward to being served by a team of dedicated and friendly cabin crew, pointing out Vietjet’s stellar standards for safety and technical reliability.

    Mr. Nguyen Thanh Hung also expects that the close relations between Vietnam, the rest of ASEAN and South Korea will contribute to the expansion of the regional aviation sector around the globe.

    With the two new routes, Vietjet operates the most number flights connecting Vietnam and South Korea with a total of 11 routes and up to 480 flights per month. The airline’s growing network has helped to boost bilateral ties and improve strategic cooperation between the two nations, creating a positive impact on the relations between ASEAN and South Korea.