Airline Leader Interview, VietJet Air, Vice Chairwoman and Vice President of Finance - CFO, Phuong Ho Ngoc Yen

Transcript

Oriel Morrison:The final award is for the Asia LCC/Hybrid of the Year, and the winner of this award is VietJet. Can I please invite Madam Phuong, Vice Chairwoman of the Board and Vice President of Finance, to, to the stage to accept the award. Congratulations. How do you feel?

Phuong Ho Ngoc Yen:Yeah, I'm proud. Yeah, this is a thank you for the recognition for VietJet Air. Yeah, I think we already do a lot of effort and finally we got the prize. Thank you a lot.

Oriel Morrison:Now, a lot of different things have been discussed at the conference over the last couple of days. Technology has been very high on the agenda. So let me ask about Starlink. You've just signed a new deal with Starlink.

Phuong Ho Ngoc Yen:Yes.

Oriel Morrison:Tell us what this means for VietJet.

Phuong Ho Ngoc Yen:Actually, we are starting from side cooperation with Starlink. We, we have intention to develop the wireless through the internet, on the flight. And with this one, it's one of the parts of program that we want to develop for our airline from the LCC to become the hybrid business model. Hmm. So this is, we can just give the offer for the passenger, they can They can connect with their family or business, and even though they can enjoy the hospitality, the film in the airline, yeah, in the plane.

Oriel Morrison:So you just talked about the hybrid model really of LCCs. You've got— let's talk about your order book. You've got a large order book. You're entering into widebody flying as well. What does this mean for your future ambitions? And where you're headed to from here?

Phuong Ho Ngoc Yen:Yes, so Vietjet started with the low-cost carrier because at that time, with the reasonable fare, so we already increasing. Now we are the most, the biggest market share in Vietnam. So the next step, we expect to move forward to the high-risk business model. With the investment for A330neo, we expect to develop the long-haul business. We want to have— because according to the market condition, we see that for the time being, the people, they want to go far from Asian country. That's the reason why we want to invest. to the A330neo, to M8, the long-haul, to fly to the Europe, UK, and France.

Oriel Morrison:Now, these ambitions, these longer-term ambitions are global ambitions, obviously, and you obviously have some growth ambitions when it comes to alliances and partnerships and new destinations. So you have a well-established JV in Thailand, you've got a new one in Kazakhstan, And you've got a lot of rumors swirling around a possible Australia one too.

Phuong Ho Ngoc Yen:Yeah, actually, Australia is one of the local airlines, the name is Cherry Project. They are cooperating for us with the trademark of the VietJet. So we have experience to fly from Vietnam to Australia. And with that group, we also have a lot of experience. So with now the cooperation with the local domestic airline like that, so we think that we can even though MS to increase more market to Australia.

Oriel Morrison:Thank you so much, Madam Phuong, and congratulations again. Can we please have a round of applause?

Phuong Ho Ngoc Yen:Yes, thank you.

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