The Vietnamese aviation sector has welcomed a new contender, Crystal Bay Airlines, bringing an infusion of VND300 billion (approximately US$11.4 million) into the industry. Established on November 6, 2025, the airline has a diverse range of operations spanning 51 business sectors, but its primary focus is passenger transportation via air, as indicated in its company registration documents.
The initial stakeholders of Crystal Bay Airlines are noteworthy and include the Crystal Bay Tourism Group, which provided VND282 billion, constituting 94% of the airline’s charter capital. The chairman of the airline, Nguyen Duc Chi, and the general director, Bui Tuong Chi, accounted for 5% and 1% of the capital, respectively.
The Crystal Bay Tourism Group has a broad operational scope, encompassing tourism, travel, resorts, and tourism real estate investment. Interestingly, prior to creating the airline, the group had no direct ownership or operational control of an aircraft fleet under the Crystal Bay label.
Despite not owning a fleet, since around 2022, the company has been facilitating international charter flights to bring tourists to Vietnam, specifically to popular destinations such as Cam Ranh Bay and Phu Quoc Island. These flights have been operated on a regular basis by other airlines, including Vietjet Air and Bamboo Airways. These collaborations have connected Vietnam with numerous markets, including Kazakhstan, Taiwan, Thailand, Mongolia, and Uzbekistan.
In 2023, Crystal Bay further expanded into the travel business by establishing Crystal Bay Tour Co Ltd. This subsidiary was set up to develop software for selling airline tickets and tours, along with executing marketing and communication campaigns – elements that are crucial for any travel business.
The creation of its own airline is widely perceived as a logical progression for Crystal Bay, aimed to augment its tourism business and establish a comprehensive ecosystem.
Who are the founding shareholders of Crystal Bay Airlines?
The founding shareholders include the Crystal Bay Tourism Group, which contributed 94% of the company’s charter capital, as well as the airline’s chairman Nguyen Duc Chi and general director Bui Tuong Chi, who accounted for 5% and 1%, respectively.
What business sectors does Crystal Bay Airlines operate in?
Crystal Bay Airlines operates in 51 business sectors with its primary focus being air passenger transportation.
What is the significance of Crystal Bay Airlines for the Crystal Bay Tourism Group?
The establishment of Crystal Bay Airlines is seen as a strategic move by the Crystal Bay Tourism Group to complete its ecosystem and enhance its tourism business.
