VietJetAir (VJ, Hanoi) is preparing to offer two tranches of share sales, to existing shareholders and to outside investors. The airline plans to initially sell 54.1 million shares via private placement - equivalent to 10% of VietJet shares already issued. Investors are in line for a generous 20% dividend, with VietJet funding that financial commitment by later selling a further 119.1 million shares.

Both of these amounts of shares are higher than the low-cost carrier initially proposed last month, but the aim is to raise the same sum as previously estimated, VND4.698 trillion dong (USD196 million).

VietJetAir says it will use the funds raised from the sale of the first share tranche to buy aircraft, engines, and supplement liquidity and working capital. VND1,136 billion (USD47.6 million) is already allocated for new aircraft, VND1,242 billion (USD52 million) is for the lease or purchase of engines, and VND2,320 billion (USD97.1 million) is going to bolster liquidity and working capital.

VietJetAir earned VND15,935 billion (USD667.2 million) in revenue in the first six months of 2022, which was double that of the same period in 2021. Gross profit was VND1,312 billion (USD54.9 million), compared to a loss of more than double that amount for the same period last year.

According to the ch-aviation PRO airlines module, VietJetAir operates a fleet of eighteen A320-200s, thirty-eight A321-200s, twelve A321-200Ns, seven A321-200NXs, and three A330-300s to 42 destinations in nine countries - South Korea, Japan, Taiwan, Indonesia, Thailand, Singapore, Malaysia, and India as well as Viet Nam.