Vietravel divests from Vietravel Airlines amid rumors that AirAsia is negotiating to buy shares - Photo: VU
Vietravel Tourism Joint Stock Company has just approved the policy of divesting all capital from Vietravel Airlines. This is the airline founded by this company.
Withdraw all capital after transferring control
According to the resolution of the board of directors issued on November 21, Vietravel will withdraw all of the more than 18.46 million shares it holds at Vietravel Airlines. The transaction value is determined to be less than 10% of the total assets of the enterprise, equivalent to a total asset of more than VND 3,130 billion, as of the end of the third quarter of 2025.
After divestment, Vietravel Airlines' shareholder structure will include Vietravel Group, T&T Airlines, T&T SuperPort, BVIM fund and a number of individual shareholders.
This is considered the next step in the process of Vietravel withdrawing from the airline it founded.
Since the end of 2024, Vietravel has transferred its shares to T&T Group, thereby handing over control. At the 2025 shareholders' meeting, T&T representatives will chair the meeting and Mr. Do Vinh Quang will be elected as Chairman of Vietravel Airlines.
Vietravel Airlines was formed from the Vietravel project built in 2018 with the goal of developing the "travel - aviation - service" model.
After the Government approved the policy in April 2020 and received the air transport business license in December of the same year, the airline took off for the first time in early 2021 with a fleet of Airbus A321s. During the period 2022-2023, the airline encountered difficulties due to increased costs and market fluctuations, causing Vietravel to begin reducing its ownership.
At the end of 2024, Vietravel transferred its shares to T&T Group. T&T then took control and appointed Mr. Do Vinh Quang - son of businessman Do Quang Hien, as Chairman of Vietravel Airlines from 2025.
On November 21, Vietravel decided to divest all of the remaining 18.46 million shares, expected to be completed within the year, paving the way for a new shareholder structure including T&T and other investors.
Vietravel Airlines flight attendants serving on the flight - Photo: VU
AirAsia appears more, is negotiating
However, the identity of the transferee of Vietravel Airlines shares has not been announced, but many sources say AirAsia is actively negotiating to become the new investor of this airline.
In August 2025, T&T Group worked with Capital A Group - AirAsia's parent company to study investment in an aviation industrial complex and airport urban area in the Southeast Quang Tri Economic Zone.
At the end of October 2025, Bangkok Post quoted Mr. Tony Fernandes - CEO of Capital A Bhd, parent company of AirAsia, confirming that negotiations were in the early stages but "progressing very well" and only a few terms remained to be completed before signing the agreement in principle.
According to many aviation experts, if the deal is successful, AirAsia can quickly expand its presence in Vietnam. Mr. Tony Fernandes has repeatedly emphasized that Vietnam is a strategic market thanks to its favorable geographical location, growing economy and rapidly growing middle class.
However, according to Tuoi Tre Online's research, the biggest obstacle for AirAsia lies not in finance but in legal constraints, especially regulations on foreign ownership ratio and brand issues.
According to current regulations, foreign investors are only allowed to hold a maximum of 34% of capital in a Vietnamese airline, this level can be increased to 49% in some cases.
Meanwhile, the prerequisite that AirAsia always sets is to own at least 51% and keep the AirAsia brand intact, which is the factor that Capital A considers the core in its regional identity strategy.
AirAsia is considering the possibility of owning a minority stake first, subject to legal limits, but any terms could still change, the source said.
AirAsia has yet to make an official comment. Vietravel Airlines, on its part, said it is negotiating with international airlines and aircraft manufacturers to expand its fleet and network, but has not disclosed details of any transactions.
AirAsia once tried to enter the Vietnamese market when it planned a joint venture with Gumin Co. and Hai Au Aviation JSC in 2019 but later canceled it.
However, this low-cost airline has repeatedly affirmed that Vietnam is still a target market thanks to the strong increase in travel demand and its position as a regional gateway.
Vietravel Airlines moves headquarters to Hanoi
Vietravel Airlines will officially move its headquarters from Truong Son Street, Ho Chi Minh City to Hanoi. The new location is at 172 Ngoc Khanh, Ba Dinh District.
The relocation is scheduled from December 28, 2025 to January 4, 2026.
According to internal information, the management has organized sessions to listen to employees' opinions and prepared support policies to minimize the impact.
However, the company also admitted that there will be some staff who cannot continue to accompany for personal reasons.
Source: https://tuoitre.vn/vietravel-thoai-von-vietravel-airlines-giua-tin-don-airasia-dam-phan-mua-co-phan-20251125092725342.htm
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