FOLLOWING its aggressive expansion across Asia, Vietnamese carrier VietJet Air has announced it will be making its IPO available by the end of this year.
At a media conference this morning, VietJet managing director Luu Duc Khanh, confirmed: “The IPO is a big step in our plans for development because it will help us gain greater trust of the public by being transparent.
“This will ultimately benefit both our investors and customers.”
Highlighting Vietjet’s order of 100 Airbus aircraft to be delivered over the next 10 years, with the first delivery having taken place just last month, Khanh said VietJet is ready to expand its flight network and increase the frequency of existing routes.
“We have very strong demand from the shorthaul market and we have decided to concentrate on them first. Why would you want to move away from what you are doing very well in? (Moreover) we do not have enough resources to spread around,” he said.
Since VietJet started operations three years ago, the airline has doubled its commercial fleet, currently operating 28 domestic and international routes from destinations within Vietnam to Singapore, Thailand, South Korea, Taiwan, and Cambodia.
Last month, it announced plans to launch flights connecting Russia’s Vladivostok with Vietnam’s Hanoi, Ho Chi Minh City, Danang, Hue and Phu Quoc.
Khanh said the company will celebrate welcoming its 10-millionth passenger this month, reflecting its ambitious target to double its number of passengers every year.
