Vietravel, a tourism company, has announced its intent to divest its 14.1% shareholding in Vietravel Airlines by the end of the current year. The details of the prospective investor are yet to be disclosed.
Established in 2020, Vietravel Airlines commenced its journey with a registered capital of $26.5 million USD. The airline began commercial operations in 2021, thereby becoming the sixth airline of Vietnam and the third to be privately owned.
The majority of the airline, 75% to be precise, is under the ownership of businesses run by Do Quang Hien, the founder and chairman of the T&T Group conglomerate. Hien acquired his stakes in the airline towards the end of last year. His son, Do Vinh Quang, was appointed chairman a few months after the acquisition.
Since Hien’s takeover, Vietravel Airlines has been on a growth trajectory. Its charter capital has been expanded to a staggering VND2.6 trillion. The airline primarily operates across the Hanoi–Da Nang–Ho Chi Minh City routes, also serving popular tourist spots like Phu Quoc and Nha Trang.
The airline has set a target to expand its fleet to a minimum of 10 aircraft by the end of this year. Negotiations are underway with aircraft manufacturers and international airlines to achieve this goal.
What is the current ownership structure of Vietravel Airlines?
75% of the airline is owned by businesses managed by Do Quang Hien, founder and chairman of T&T Group.
What are Vietravel Airlines’ primary routes?
The airline mainly operates on the Hanoi–Da Nang–Ho Chi Minh City routes and also serves tourist destinations like Phu Quoc and Nha Trang.
What are Vietravel Airlines’ expansion plans for the current year?
The airline plans to expand its fleet to at least 10 aircraft by the end of this year.
