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.
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.
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.
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!
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.
