Vietnam’s Vietravel Airlines acquires first aircraft

With a capacity of 228 seats, the aircraft, bearing registration number VN-A129, will begin commercial operations in early July.

This acquisition represented the airline’s transition from leasing to ownership.

The aircraft was previously operated by the U.S.-based Spirit Airlines, and was certified for airworthiness in July 2015.

Two more Airbus A320s are expected to join its fleet in July, bringing the number of airline-owned aircraft to three.

The aircraft purchase followed a significant shift in the airline’s ownership structure, with a group of firms related to T&T Group, headed by Do Quang Hien, becoming the strategic shareholder and holding some 75 percent of the airline.

Do Vinh Quang, chairman of Vietravel Airlines, said that owning aircraft rather than leasing them allows for greater operational autonomy and long-term cost reduction, and reinforces the airline’s financial and managerial capability.

Deputy head of the Civil Aviation Authority of Vietnam Ho Minh Tan praised the acquisition as a concrete step toward fulfilling T&T Group’s long-term development commitments to the airline.

Currently, Vietravel Airlines operates only one aircraft, which has limited its operational capacity.

With the expanded fleet, the airline plans to increase flight frequency on core routes between Hanoi, Ho Chi Minh City, and popular tourist destinations such as Da Nang in central Vietnam, Phu Quoc Island off southern Kien Giang Province, and Quy Nhon City in south-central Vietnam.

In line with its growth ambitions, Vietravel Airlines has approved a plan to double its charter capital from VND1.3 trillion (US$50 million) to VND2.6 trillion ($100 million) in the first half of 2026.

The capital spike, supported by Saigon – Hanoi Commercial Joint Stock Bank (SHB) and the ecosystem of T&T, is aimed at further strengthening its fleet and financial standing.

Licensed for the establishment in 2020 with initial capital of VND700 billion ($26.8 million), Vietravel Airlines made its maiden commercial flight in January 2021.

It is Vietnam's sixth airline and the third in the private sector.

The airline plans to build an integrated aviation ecosystem, expanding into air cargo, ground services, and supporting industries, paving the way for a broader presence in Vietnam’s aviation and logistics landscape.