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  • Vietravel Airlines Set to Double Charter Capital to $99 Million, Fueling Growth and Expansion Plans

    Vietravel Airlines Set to Double Charter Capital to $99 Million, Fueling Growth and Expansion Plans

    Vietravel Airlines is embarking on an ambitious journey to double its charter capital to VND2.6 trillion (approximately US$99 million) in the first half of next year, buoyed by what they describe as “financial support” from SHB Bank.

    Shareholders Back Bold Financial Move

    In a decisive move, shareholders greenlit the capital increase during last week’s annual general meeting, aimed at bolstering the airline’s financial foundation for an expanded fleet and network. However, details remain under wraps regarding whether SHB will assume the role of lender or investor.

    A Vision for Growth

    Chairman Do Vinh Quang expressed confidence in the airline’s growth trajectory, stating that the partnership with SHB will play a pivotal role in reaching their ambitious targets. He noted that the bank’s robust financial capabilities and experience would enhance Vietravel Airlines’ efforts to grow its fleet, invest in cutting-edge technology, and elevate service quality.

    Building an Integrated Aviation Ecosystem

    Vietravel Airlines envisions creating a synchronized aviation ecosystem that marries transportation, tourism, and digital innovation, all underpinned by the support of its parent company, T&T Group, and the associated Vietravel Group. The airline, which launched operations in January 2021, emerged as Vietnam’s sixth carrier and third privately-owned airline with an initial capital of VND700 billion. T&T Group, a diversified conglomerate active in finance, real estate, and construction, currently holds a commanding 75% stake in the airline.

    With grand aspirations and a solid backing, the sky is truly the limit for Vietravel Airlines—who knows, they might even start a trend where airplanes serve gourmet meals from the region they’re flying over!

    Questions & Answers

    What is Vietravel Airlines’ new charter capital amount?
    The airline plans to double its charter capital to VND2.6 trillion (approximately US$99 million) in the first half of next year.

    When did Vietravel Airlines commence operations?
    The airline began flying in January 2021, establishing itself as Vietnam’s sixth carrier.

    What is the main goal of the capital increase?
    The aim is to strengthen financial capacity to expand the airline’s fleet and network while enhancing service quality through partnerships.

  • Vietnam Airlines adds more flights for Tet

    Vietnam Airlines adds more flights for Tet

    Vietnam Airlines has announced it will increase the number of flights during Tet (Lunar New Year holidays) by a further 500 after informing increases in August and early December.

    The 500 flights will be between Jan. 6 and Feb. 5, 2023, and have over 90,000 seats. Most of them will be from HCMC and Hanoi to Vinh, Thanh Hoa, Dong Hoi, Chu Lai, and other places.

    Vietjet Air and Bamboo Airways have sold nearly all tickets on their Tet extra flights. Vietravel Airlines has increased the number of daily return flights between HCMC and Hanoi to three.

    Airlines will altogether operate nearly 33,700 flights with 6.7 million seats during Tet, which falls in late January, up 33% from the previous year.

    But with many people still unable to buy tickets to return home for the New Year, the Civil Aviation Authority of Vietnam and airlines are considering adding even more flights.

  • Vietravel reaps profit in Q4 after consecutive loss

    Vietravel reaps profit in Q4 after consecutive loss

    Tourism company Vietravel reported VND228 billion ($10 million) profit in Q4 of 2021, after four consecutive quarters of loss.

    It posted net revenues of VND190 billion in Q4, down 60 percent compared to the same period of 2020.

    “Company activities regained positive changes due to the fact the pandemic was gradually brought under control. Simultaneously, the company had restructured its financial investment,” Vietravel said.

    However, Vietravel reported an accumulated loss of more than VND256 billion for the whole 2021, tripling year-on-year, as its core activities of tourism and aviation suffered from Covid-19.

    At the end of last year, Vietravel had sold a 55.58 percent stake in Vietravel Airlines to an unspecified investor as it seeks more funding amid Covid financial pressures.

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