As part of their longterm commitment to their Jetstar Pacific (Ho Chi Minh City) joint-venture, Qantas (QF, Sydney Kingsford Smith) and Vietnam Airlines (VN, Hanoi Noi Bai International) have pledged to invest USD139 million to more than double the size of the Vietnamese LCC's fleet over the next four years.

The funds will be used to acquire up to eighteen more A320 Family aircraft between now and 2020. Under its 70/30 shareholding, Vietnam Airlines will inject USD97 million with Qantas making up the remaining USD43 million.

The revelation follows a meeting in Sydney last November wherein both carriers pledged to support the LCC in its quest to secure and grow its Vietnamese market share which currently stands at 14.9% domestically.

Jetstar Pacific operates ten A320-200s and two A321-200 (SL)s on flights to twenty-three destinations across Vietnam, China, Thailand, Macau, Singapore, and Hong Kong. A further two A320-200 (SL)s are expected in July and August on lease from China Aircraft Leasing Group Holdings (CALC). the airline posted its first annual profit of VND267 million (USD11,800) last year, the first since its establishment in 2008.