Thai VietJet Air, cross border JV of Vietnam-based VietJet, launched scheduled services on 15-Sep-2016, becoming the fourth LCC in Thailand’s already intensely competitive domestic market. Over the past three years VietJet has faced multiple delays in launching its joint venture in neighbouring Thailand, and will now confront huge challenges in establishing a significant presence on trunk routes.
VietJet will be competing in Thailand against three much more established LCC groups in AirAsia, Lion and Nok. In comparison VietJet has faced relatively limited competition in Vietnam, where it is only one of two LCCs since commencing operations at the end of 2011.
VietJet needs to diversify beyond the Vietnamese market to support its order book, which now includes approximately 200 aircraft, and its growth aspirations. However, Thai VietJet represents a risky project just as the group moves forward with its IPO plans.
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