Crystal Bay Airlines to Launch with Three A321 Jets
Crystal Bay Airlines is preparing to launch operations with an initial fleet of three Airbus A321 family aircraft, positioning itself as an international leisure charter carrier rather than a domestic scheduled airline. The strategy was outlined by General Director Bui Tuong Chi in comments to local media outlet CafeF, as the start-up moves closer to operational readiness. Crystal Bay Airlines is a new Vietnamese hybrid-leisure carrier set to launch in 2026, backed by Crystal Bay Tourism Group to support and expand its broader tourism ecosystem.
The airline plans to focus primarily on inbound leisure traffic to Vietnam, targeting overseas markets rather than competing in the crowded domestic sector. Bui described the business model as “hybrid-leisure,” designed to integrate closely with the parent company’s wider tourism ecosystem. In its initial phase, Crystal Bay Airlines aims to offer around 400,000 seats annually, with management targeting an ambitious average load factor of approximately 90%.
Crystal Bay Airlines’ long-term fleet plan envisages growth to up to 10 aircraft, in line with its approved capital structure and licensing framework. The A321 family was selected to provide flexibility in range and capacity, allowing the airline to efficiently serve medium-haul leisure routes while accommodating group travel and tour-based demand.
Network development will be firmly oriented toward international inbound markets. According to Bui, Crystal Bay Airlines does not intend to compete head-on with established Vietnamese carriers on domestic routes. Instead, the airline will prioritise charter services from Russia, Central Asia, Mongolia, and Northeast Asia, regions seen as having strong potential for packaged leisure travel to Viet Nam’s beach and resort destinations. To support onward domestic connectivity, the carrier plans to enter into codeshare or interline arrangements with existing Vietnamese airlines, enabling arriving passengers to connect seamlessly to other parts of the country.
A key pillar of the business model is vertical integration with Crystal Bay Vietnam, the group’s in-house tour operator. As a result, ticket sales are expected to account for only 25% to 35% of total revenue. The majority of income will come from bundled holiday products, including accommodation, ground transport, and experiences. This approach is intended to smooth demand fluctuations and reduce exposure to seasonal volatility that often affects leisure-focused airlines.
Crystal Bay Airlines was officially incorporated on November 6, 2025, with a charter capital of VND300 billion ($11.4 million). This meets Viet Nam’s minimum capital requirement for airlines operating fleets of up to 10 aircraft. Crystal Bay Tourism Group holds a 94% stake in the carrier, while chairman Nguyen Duc Chi owns 5% and Bui Tuong Chi holds the remaining 1%.
The new carrier is the second airline in Viet Nam to be backed by a leisure and real estate group in recent years, following the launch of Sun PhuQuoc Airways in 2025. The trend reflects growing interest among resort developers in vertically integrating air transport to secure inbound tourism flows and strengthen control over the customer journey.
If successful, Crystal Bay Airlines could add a new dimension to Viet Nam’s aviation market by reinforcing the country’s appeal as an international leisure destination while operating largely outside the highly competitive domestic airline arena.
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Sources: AirGuide Business airguide.info, bing.com, ch-aviation.com