More flights for less money
VietJet Air latest logo and identity
In November 2007, the Vietnamese Minister of Finance issued a license to VietJet Airlines, making it the first privately owned, modern airline in Vietnam. The Vietnam Airlines was established in December 2011 and is the country's second privately owned and fifth domestic civil airline. VietJet Air is a joint venture between Sovico Holdings and HDBank, as well as other institutional investors and stakeholders. The first flight took place on December 25, 2011, and connected Ho Chi Minh City with Hanoi. In December of 2015, the 25 millionth passenger was on board.
With the introduction of the low-cost airline model, Vietjet Air nearly eliminated all of its in-flight extras. In contrast to Vietnam Airlines, Vietjet Air no longer charges for checked bags and does not provide in-flight meals. Passengers will now have to pay extra for things like luggage storage and lunch service. The seats are as close together as possible, and there isn't even an in-flight magazine, all because Vietjet wants to save money on these trips.
Surprisingly, Vietjet Air's low-cost airline model not only provides possibilities to travel for Vietnamese people in general, but it also encourages the growth of the aviation sector. The market is expected to expand by about 14% during the next four years, from 2011 to 2015. Vietjet's market share grew significantly from 5% in 2011 to 43% in 2017, making it the airline with the largest domestic market share in Vietnam.