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AirAsia seals Vietnam partnership


Published on Apr 9, 2010

Malaysian Prime Minister, Mohd Najib Tun Hj Abdul Razak, and Vietnamese Deputy Prime Minister, Truong Vinh Trong, yesterday witnessed the signing of a strategic partnership agreement between VietJet Aviation Joint Stock Company (VietJet Air) and AirAsia Berhad.

The deal, which was announced earlier this year, was sealed by VietJet Air CEO, Nguyen Duc Tam, and AirAsia Group CEO, Tony Fernandes, on the sidelines of the 16th ASEAN Conference in Hanoi. During the official signing ceremony, both companies also announced that they have entered into an engineering support services agreement.

AirAsia had earlier acquired a 30% equity stake in VietJet Air to launch a Vietnam-based low-cost carrier. The trade name is tentatively VietJet AirAsia. VietJet AirAsia will operate both domestic and international flights.

“VietJet AirAsia will complement the existing strengths of Vietnam’s tourism industry and help turn the country into a tourism powerhouse, said Fernandes. “We will be encouraging more tourists to fly to Vietnam’s various beautiful destinations with our low fares and contribute to tourism receipts that will in turn spur economic benefits.

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