Vietnam Airlines stated it aims to become the “number three” airline in Southeast Asia by 2015 and “number two” by 2020 (Vietnam Business Forum, 27-Aug-2010). To achieve this, the carrier plans to continue expanding its fleet and expects to have 110 aircraft by 2015 and 160 by 2020. It also plans to conduct research into the possibility of specialised cargo operations. In terms of its route network, the carrier plans to strengthen its domestic and Greater Mekong sub-region services, with services in Southeast Asia, South Asia, Northeast Asia and South Pacific to be developed.
Vietnam Airlines aims to be 'No 2' in Southeast Asia by 2020
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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.