The Board of Directors (BOD) of Vietravel Joint Stock Company has approved a resolution to divest its entire stake of over 18.46 million shares in Vietnam Travel Aviation Joint Stock Company (Vietravel Airlines), with the transaction set to be executed in 2025.
The transaction value is less than 10% of the company’s total assets, which stood at over VND 3,130 billion as of the end of Q3 2025.
This marks the latest development for Vietnam’s first travel airline. If the divestment is successful, Vietravel will no longer be a shareholder in the airline.
Vietravel to divest its entire stake in Vietravel Airlines
Following Vietravel’s complete divestment, the airline’s major shareholders will include T&T Airlines, T&T SuperPort, BVIM Fund, and others. Mr. Do Vinh Quang (Vice Chairman of the BOD of Saigon-Hanoi Commercial Bank) currently serves as the Chairman of Vietravel Airlines’ BOD.
Previously, in June 2025, the 2025 Annual General Meeting of Vietravel Airlines, attended by major shareholders such as T&T Airlines, T&T SuperPort, BVIM Fund, Vietravel Group, and Vietravel Joint Stock Company, approved a plan to increase the charter capital to VND 2,600 billion, alongside a commitment from Saigon-Hanoi Commercial Bank (SHB). The capital increase is expected to be completed in the first half of 2026, aimed at supporting the airline’s fleet expansion and operational growth.
Vietravel Airlines was established based on a project developed by Vietravel in 2018, with the goal of creating an integrated model of “travel – aviation – services.”
In April 2020, the government approved the investment policy, paving the way for the airline to receive its air transport business license in December of the same year. In early 2021, Vietravel Airlines operated its first commercial flight, utilizing an Airbus A321 fleet and targeting domestic routes combined with tour-based international flights.
However, during 2022–2023, the airline faced significant challenges due to soaring fuel prices, escalating operational costs, and uneven market recovery post-COVID-19. Financial pressures compelled Vietravel to gradually reduce its ownership stake to restructure cash flow and focus on its core travel business.
Since April 2025, Mr. Nguyen Quoc Ky, the founder and former Chairman of Vietravel Airlines’ BOD, has not participated in the airline’s new BOD term, making way for new shareholders.
Vietravel Airlines recently successfully operated its first charter flight connecting Hanoi and Huangshan (China), marking a significant step in expanding its international route network to key source markets in 2025.
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