Vietstar Airlines (Vietstar Airlines Multirole Corporation) is a diversified aviation services provider headquartered in Ho Chi Minh City, with an operational base at Tan Son Nhat Airport. Vietstar was established in Apr-2010 as a result of a joint venture agreement with several aviation-related enterprises and is a wholly government-owned corporation, a unit of the Ministry of Defence. The company provides passenger and cargo charter, pilot training, aircraft maintenance and aviation fuel supply.
Vietstar issued a request for a commercial license, as it seeks to launch scheduled passenger and cargo services in Mar-2016. The carrier is expected to commence service in 2017 with five A320, A321 and Boeing 737 passenger aircraft and two 737-300Fs. The airline will target the domestic, Southeast Asia and Northeast Asia markets under a five-year business plan. Vietstar Airlines is forecast to record 561,000 passengers and 32,000 tons of cargo in its first year of operations and plans to expand its fleet to 19 aircraft, including nine 737-300Fs, by 2020.The airline has capital of VND800 billion (USD36 million) and requires another VND47.3 billion (USD2 million). The commercial license application has passed CAAV evaluation, and received in principle approval from the government. It is now awaiting final approval, with a potential for launching service in 2017 at the earliest. Once officially approved, Vietstar Airlines will become the fifth carrier in Vietnam, joining Vietnam Airlines, Jetstar Pacific, Vietjet Air and Vietnam Air Services Co (VASCO).
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