Vietravel Airlines Plans Capital Increase to $82 Million

Vietravel Airlines is set to bolster its financial position as the general meeting of shareholders on October 23 approved a plan to increase the carrier’s charter capital. The airline aims to raise the capital from VND 1.3 trillion (USD 53 million) to VND 2 trillion (USD 82 million) through a share issue to both new and existing shareholders. The decision is driven by the goal to strengthen the company’s core and supporting businesses.

Vietravel Airlines, which commenced scheduled flight operations in early 2021, currently operates three A321-200 aircraft. Seeking additional resources, the airline is looking for investors to support its expansion plans. Vietravel Airlines aspires to grow its fleet to 25 aircraft by 2025 and further expand to 50 aircraft by 2030. The long-term vision also includes increasing the capital to VND 8.25 trillion (USD 335 million).

As part of the recent developments, Vietravel Airlines CEO and board member Vu Duc Bien will not continue on the board until 2027 due to family reasons. The board has elected two new members: Doan Hai Dang, Chief Executive of online travel agency WorldTrans, and Philipp Rösler, former German politician and Vice-Chancellor of Germany from 2011 to 2013, who currently serves as the Chairman of the international advisory board at venture capital fund VinaCapital Ventures.

Vietravel Airlines presently focuses on operating flights for its tour operator parent, Vietravel Group. The airline serves seven tourist destinations within Vietnam and connects the country with Macau International, Sanya in mainland China, and Daegu and Muan in South Korea.

Keep an eye on Vietravel Airlines as it seeks to enhance its financial standing, expand its fleet, and navigate the dynamic aviation landscape.