Tony Fernandes, CEO of Capital A Bhd (the parent company of AirAsia), said the company is in the early stages of negotiations to acquire a stake in Vietnam Transport and Tourism Marketing Joint Stock Company ( Vietravel , ticker symbol: VTR), the owner of Vietravel Airlines, according to BangkokPost.
According to BangkokPost, this move is part of the Malaysian airline group's strategy to expand its presence in Vietnam – one of Southeast Asia's fastest-growing aviation markets.
AirAsia is considering acquiring a small stake in Vietravel, as Vietnam currently limits foreign ownership in airlines to a maximum of 34%. However, the parties stressed that discussions are still in their early stages and terms are subject to change.
AirAsia is in negotiations to acquire a stake in Vietravel Airlines (Photo: BangkokPost).
AirAsia has not yet commented on this information.
At the Forbes Global CEO Conference held in Jakarta on Wednesday, Tony Fernandes confirmed that negotiations were “progressing very well” with a single partner, but declined to provide further details.
"We only have a few more terms to finalize before we can proceed to sign the memorandum of understanding," he said.
Vietnam is considered one of the fastest-growing aviation markets in Southeast Asia. Passenger numbers have recovered strongly after the pandemic, thanks to the expansion of the middle class, increased domestic travel demand, and a steady stream of international visitors from China, South Korea, and India.
Vietravel Airlines was launched at the end of 2020, wholly owned by Vietravel. In 2025, an extraordinary general meeting of shareholders unanimously elected Mr. Do Vinh Quang as Chairman of the Board of Directors for the 2025-2030 term. Mr. Quang is the second son of Mr. Do Quang Hien (commonly known as "Bau Hien") - Chairman of T&T Group .
Reportedly, Vietravel has sold a majority stake in Vietravel Airlines to T&T, but the exact amount has not been disclosed.
The " air war" heats up even more with AirAsia's return.
In 2019, AirAsia canceled plans to form a joint venture with Gumin Co. and Hai Au Aviation JSC to establish a low-cost airline in Vietnam. However, the airline still emphasized that Vietnam is a strategic market due to its favorable geographical location and significant growth potential.
The Vietnamese aviation market is witnessing fierce competition. This week, new airline Sun PhuQuoc Airways announced plans to purchase 100 Airbus and Boeing aircraft within five years to operate in the Vietnamese aviation market.
Currently, Vietnam Airlines and VietJet Air remain the two leading airlines. Bamboo Airways, meanwhile, is known to have restarted its business expansion plans.
Source: https://dantri.com.vn/kinh-doanh/airasia-muon-mua-co-phan-vietravel-tro-lai-thi-truong-hang-khong-viet-nam-20251020113102984.htm
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