VietJetAir (VJ, Hanoi Noi Bai International) has received approval from its shareholders to increase foreign ownership in the airline, reports Bloomberg.
"I just want to create more investment opportunities to those who want to invest in VietJet and create better liquidity in the market," CEO Nguyễn Thị Phương Thảo is reported as saying.
The decision to increase foreign shareholding from 30 to 49% will still require the approval of Prime Minister Nguyễn Xuân Phúc.
The low-cost carrier told shareholders at its meeting on April 20 that it is targeting total revenue of VND42 trillion (USD1.85 billion) in 2017, with a pre-tax profit of VND3.6 trillion (USD158.4 million). It plans to increase the number of routes offered to 78 (currently 57) with 37 of those to be international.
Earlier this year, VietJet became the first Vietnamese airline to debut on the public exchange, a successful undertaking which saw it valued at more than USD1 billion. The airline is still relatively new, having commenced operations in 2011, but has seen strong performance and already commands 42% of Vietnam's domestic aviation market. It operates a fleet of thirty-seven A320-200s and ten A321-200s.
