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VietNamNews

Profits push VietJet into IPO ambitions

Update: September, 04/2013 - 09:34
Viet Nam's budget private carrier, VietJetAir, intends to seek an Initial Public Offering (IPO) from overseas after the airline swung into VND120 billion (US$5.7 million) pre-tax profit for the first seven months of this year.— Photo vemaybaygianet

HA NOI (VNS) — Viet Nam's budget private carrier, VietJetAir, intends to seek an Initial Public Offering (IPO) from overseas after the airline swung into VND120 billion (US$5.7 million) pre-tax profit for the first seven months of this year.

The airline's managing director, Luu Duc Khanh, said that the IPO might be made on the Singapore or Hong Kong stock exchanges because the Viet Nam bourses are too small.

The IPO plan was announced in the airline's second year of operation, after the carrier's profit rose beyond expectations.

VietJetAir now operated 500 flights a week with 14 domestic routes - and two international routes connecting Ha Noi and HCM City to Bangkok.

The nation's only private carrier plans to launch more domestic and international routes in the Asian region in the near future - targeting Taiwan, South Korea, Singapore, Malaysia and Japan. — VNS

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