VietJetAir (VJ, Hanoi Noi Bai International) has confirmed a new major shareholder has joined its ranks in the form of Sovico Holdings.

A disclosure to the Ho Chi Minh City Stock Exchange (HOSE) said Sovico completed the purchase of an additional 13.67 million shares thus bringing its overall shareholding in the budget airline to 34.25 million shares, or 7.59% of its charter capital.

Sovico is 52% owned by VietJet Air CEO Nguyen Thi Phuong Thao.