The formerly tightly held Vietravel Airlines (VU, Hue Phu Bai International) has taken on three new shareholders, namely T&T Aviation Transport and Trading JSC, trading as T&T Airlines; T&T Super Port and International Logistics Center Company Limited, trading as T&T SuperPort; and BVIM Fund Management JSC.
Vietravel Airlines chairman Nguyen Quoc Ky said that opening the share register to the three “strategic shareholders” would allow the carrier to improve its competitiveness, expand its flight network, and bolster service quality. “This share transfer is also a significant step in realising Vietravel Airlines’ investment and development plan,” he added.
While none of the parties put a monetary figure on the investments, the digital daily Bao Dau Tu reported that the T&T entities now hold around 75% of Vietravel Airlines’ charter capital, which recently increased to VND1.3 trillion dong (USD51 million).
T&T Group is a privately owned Vietnamese conglomerate with interests across the finance, logistics, healthcare, transportation, and forestry sectors, among others. BVIM is an investment company owned by three individuals, Tran Thi Hong Lien (49%), Nguyen Thai Ha (48%), and Nguyen Ngoc Nghi (3%).
After the transactions close, Vietravel Airlines’ expanded shareholder register will include Vietravel Group, Vietnam Transport Tourism and Marketing JSC, T&T Airlines, T&T SuperPort, BVIM Fund, Tran Doan The Duy, and Doan Hai Dangral. When Vietravel Airlines was founded in 2020, the sole shareholder was Vietnam Transport Tourism and Marketing JSC.
According to ch-aviation PRO airlines data, Vietravel Airlines operates scheduled passenger services between Hanoi Noi Bai International, Ho Chi Minh City, Phu Quoc, Da Nang, Qui Nhon, and Bangkok Suvarnabhumi, with a fleet of three A321-200s and a single A320-200.