VietJet Air confirmed (26-Jun-2013) plans to establish a joint venture with Kan Air to launch Thai VietJet Air. Thai VietJetAir will commence operations in early 2014 with two to three A320 aircraft. [more - original PR]
VietJet Air establishes a joint venture in Thailand
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Southeast Asia Fleet Outlook:
Southeast Asia, along with the Middle East, are the only two regions with as nearly as many aircraft on order as in the active fleet. Southeast Asian airlines currently have nearly 1700 aircraft on order compared to an active fleet of approximately 1800 aircraft.
AirAsia initiates third attempt to launch Vietnamese JV; Vietnam maybe overburdened with LCCs
The AirAsia Group has forged a new joint venture in Vietnam, marking its third attempt to establish a Vietnamese affiliate. AirAsia was initially partnered with VietJet Air but the partnership was dissolved prior to VietJet commencing operations in late 2011.
The market has since more than doubled in size, and Vietnam has emerged as Southeast Asia’s fastest growing market. While there is further growth potential, the LCC incumbents VietJet and Jetstar Pacific have first mover advantage, and infrastructure constraints could make it difficult for any new entrant to establish a significant presence. AirAsia will also need to overcome regulatory hurdles.
Vietnam is the second largest market in Southeast Asia without an AirAsia affiliate - after Singapore, where the group has been able to develop a sizeable presence with a virtual hub. Vietnam is a market AirAsia strategically cannot avoid, but the group is late to the party and faces some of the same obstacles that have impacted its performance in the Philippines.