AirAsia Vietnam is a proposed Vietnamese JV between AirAsia Group and potential investors. AirAsia has been interested in the Vietnamese market for several years and initially had a stake in VietJet. According to the group, Vietnam provides an opportunity for AirAsia to potentially operate domestic and international underserved routes, primarily providing connectivity domestically into key cities in Vietnam, as well as, internationally to ASEAN, China, Korea and Japan from three major hubs namely Ho Chi Minh, Hanoi and Da Nang. On 31-Mar-2017, AirAsia Group announced that, through its wholly-owned subsidiary AirAsia Investment Limited, it executed a shareholder agreement and a share subscription agreement with Gumin Company Limited, Mr. Tran Trong Kien and Hai Au Aviation to establish a new low-cost JV in Vietnam. Under the agreement, AirAsia will own a 30% stake, Gumin Company will become a majority shareholder with 69.9% and Mr Kien becoming a minority shareholder. The group has not allocated any aircraft from its order book to the proposed Vietnamese airline. Nevertheless, the group is aiming to launch the JV by Oct-2018, with an initial capital of VND1 trillion (USD44 million).
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