Vietnam Airlines

What Vietnam Airlines does

Vietnam Airlines JSC is Vietnam's state-owned national flag carrier, headquartered at Noi Bai International Airport in Hanoi and listed on the Ho Chi Minh Stock Exchange under ticker HVN. The airline was originally founded in 1956 and incorporated as a joint stock company in 2010, operating as part of Vietnam Airlines Group alongside wholly-owned subsidiaries Pacific Airlines (low-cost) and VASCO (regional operator), plus Saigontourist Group.

The airline operates a full-service passenger network spanning domestic Vietnamese routes and international connectivity across 20+ countries in Asia, Europe, North America, and Oceania. Its core fleet of approximately 151 aircraft includes Boeing 787 Dreamliner, Boeing 737 MAX, and Airbus A350 widebodies, with a $8.1 billion order for 50 additional Boeing 737-8 MAX aircraft (deliveries 2030-2032) and 19 leased MAX 8s (from 2028). The product portfolio comprises three cabin classes (Economy, Premium Economy, Business), the VNAXPRESS premium hourly shuttle on the Hanoi-HCM City corridor, VNA-FPT Play wireless in-flight entertainment, and the Lotusmiles loyalty program. Distribution is hybrid: direct-to-consumer via website, mobile app, and contact centers, supplemented by SkyTeam alliance code-shares, General Sales Agents (e.g., Aeroprime Group in India), travel platform partnerships (ixigo, BelAir), ticketing offices, and OTAs.

Revenue is generated primarily through passenger ticket sales across Economy, Premium Economy, and Business fares with varying fare conditions, supplemented by ancillary services (excess baggage, seat selection, upgrades, Sky Sofa, lounge access, TripCare insurance, prepaid meals), dedicated cargo operations, and Lotusmiles loyalty/co-brand card revenue. Pricing varies by route, cabin, and season, with fuel surcharges applied during elevated fuel cost periods and senior discounts (15% for 60+) on domestic flights. Major customer segments include leisure travelers, business travelers, travel agencies/tour operators, and senior passengers, with key source markets for inbound tourism being China, South Korea, India, Australia, and the United States.

Name

Vietnam Airlines

Legal name

Vietnam Airlines JSC

Website

https://vietnamairlines.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

251–500 employees

Short description

Vietnam Airlines is Vietnam's state-owned national flag carrier operating scheduled passenger and cargo flights across domestic routes and 20+ international markets in Asia, Europe, North America, and Oceania, serving leisure and business travelers with three cabin classes and a SkyTeam alliance partnership.

Ownership category

akta.pro rank

Product category

Full-Service Airline (Air Passenger Transportation)

NAICS

Scheduled Passenger Air Transportation (481111), Scheduled Air Transportation (48111), Scheduled Freight Air Transportation (481112), Air Transportation (481)

SIC

Air Transportation, Scheduled (4512), Air Transportation, Nonscheduled (4522)

akta.pro primary industry

National Flag/Legacy Full-Service Airlines (THABAAAB)

akta.pro secondary industries

Full-Service Airlines (Passenger + Belly Cargo Integrated) (THABAAAF), Network Airlines (Full-Service, Flag & Regional) (TLAFAAAA)

Keywords

• Passenger air transportation
• Cargo freight services
• Airline loyalty program
• Scheduled flight services
• Cabin class travel

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Passenger Revenue: Core revenue from selling air tickets across Economy Class, Premium Economy Class, and Business Class on domestic Vietnam routes and international routes to destinations in Asia, Australia, Europe, and the United States. Revenue varies by fare type (Economy Lite, Economy Classic, Economy Flex, Business) and is subject to seasonal demand fluctuations and fuel surcharges.
2. Ancillary Services: Revenue from additional services including excess baggage charges, advance seat selection, cabin upgrades (Sky Sofa), priority boarding, lounge access, and special services (unaccompanied minors, medical conditions, pets). The airline also generates revenue from tripcare travel insurance and prepaid meals.
3. Cargo Operations: Vietnam Airlines Cargo serves freight transport needs, particularly affected during jet fuel crises when capacity reductions impact cargo availability. The airline operates cargo services from dedicated cargo terminals.
4. Lotusmiles Program Revenue: Revenue from selling Lotusmiles membership cards, bonus miles, and transfer fees. Also generates revenue through partnerships with co-brand credit cards and affiliate programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Vietnam Airlines operates scheduled passenger air transportation as Vietnam's national flag carrier, providing domestic flights across Vietnam and international flights to destinations in Asia, Australia, Europe, and the United States across three cabin classes (Economy, Premium Economy, Business). The core offering is supplemented by ancillary services (excess baggage, seat selection, upgrades, lounge access), cargo operations through Vietnam Airlines Cargo, the Lotusmiles frequent flyer program, and the premium VNAXPRESS hourly shuttle on the Hanoi–Ho Chi Minh City corridor.

Product overview

Vietnam Airlines operates as a full-service flag carrier airline offering a unified platform of passenger air travel services. The core product encompasses scheduled domestic and international flights across Asia, Europe, and North America, complemented by ancillary services and sub-brands. The product portfolio includes three cabin classes (Economy, Premium Economy, Business), the VNAXPRESS premium high-frequency service on key domestic routes, and the Lotusmiles loyalty program for mileage accrual and redemption. Additional services such as excess baggage, seat selection, upgrades, Sky Sofa, and travel insurance are available as add-ons. The airline participates in the SkyTeam global alliance and offers dedicated cargo services. The company is expanding its fleet with new Boeing 737 MAX aircraft for short-haul routes while maintaining widebody operations for long-haul markets.

Differentiator

Problem solved

Functional benefit

Brands

• Lotusmiles: Frequent flyer loyalty program of Vietnam Airlines offering miles accumulation and redemption
• VNAXPRESS
• Lotus Lounge
• SkyPriority
• SkyTeam

Quantifiable outcome

• 16% capacity increase in summer 2026 vs prior year
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature3 records

Partnerships

16 partnerships are on record, tiered minor and core.

• Cebu PacificminorChannel Partner/ Reseller/ Distributor · 15 July 2026Wet lease agreement where Cebu Pacific deployed one Airbus A320neo aircraft with pilots and cabin crew to Vietnam Airlines from July 15 to September 7, 2026. Aircraft operates from Ho Chi Minh City on domestic routes to Cam Ranh, Phu Quoc, Vinh, and Da Nang. Arrangement allows Cebu Pacific to generate revenue during lean third-quarter period in Philippines.
• Global Centre for Green FuelscoreStrategic or Co-development Partner · 25 June 2026Co-organizer of International Conference on Sustainable Aviation Fuel in Hanoi, Vietnam on June 25, 2026. Conference brought together policymakers, aviation regulators, airlines, fuel suppliers, and technology providers to discuss SAF policy frameworks and market development aligned with Vietnam's net-zero emissions target by 2050.
• AirbuscoreTechnology or Integration · 25 June 2026Airbus participated in International Conference on Sustainable Aviation Fuel as industry leader, discussing SAF policy frameworks and market development. Vietnam Airlines operates Airbus A350 aircraft as part of fleet.
• BoeingcoreTechnology or Integration · 25 June 2026Boeing participated in SAF conference discussing sustainable aviation fuel development for Asia-Pacific region. Vietnam Airlines has Boeing 787 Dreamliner fleet and ordered 50 Boeing 737-8 aircraft.
• Tourism Authority of Thailand (TAT)coreStrategic or Co-development Partner · 29 May 2026Landmark partnership signed during state visit marking 50 years of diplomatic relations. Vietnam Airlines launched new Ho Chi Minh City-Phuket route on July 2 operating four weekly flights. Cooperation aims to boost bilateral tourism, expand air connectivity to 67 weekly flights between the two countries, and strengthen ASEAN regional integration.
• Saigontourist GroupcoreStrategic or Co-development Partner · 7 May 2026Vietnam's state-owned national carrier and oldest tourism group signed MoU with Innovations India during Vietnamese President To Lam's state visit to India. Partnership aims to boost tourism exchanges, film cooperation, and cultural connectivity through Bollywood feature film SILAA and 5th Namaste Vietnam Festival 2026.
• Innovations IndiacoreGTM or Marketing Partner · 7 May 2026MoU signed during President To Lam's first official state visit to India and 10th anniversary of Vietnam-India Comprehensive Strategic Partnership. Partnership covers Bollywood feature film SILAA production and 5th edition of Namaste Vietnam Festival 2026, with Maharashtra CM Devendra Fadnavis witnessing the signing.
• Singapore AirlinescoreStrategic or Co-development Partner · 8 April 2026Singapore's Competition and Consumer Commission (CCS) seeking public feedback on proposed commercial cooperation joint venture between Singapore Airlines and Vietnam Airlines. Proposed metal-neutral alliance covering scheduling, pricing, sales, and marketing on routes between Singapore and Vietnam. Explicitly excludes low-cost subsidiaries Scoot and Pacific Airlines.
• Aeroprime GroupcoreChannel Partner/ Reseller/ Distributor · 27 March 2026General Sales Agent for India market, hosting India Sales Kick-Off 2026 in New Delhi. Partnership formalized in early 2024 has evolved to coordinated effort focusing on yield management, deeper metro penetration, and strengthened trade engagement. Signed MoUs with ixigo and BelAir for expanded distribution networks.
• ixigocoreChannel Partner/ Reseller/ Distributor · 27 March 2026Travel platform partnership to expand distribution networks as part of Vietnam Airlines' India market strategy. ixigo is a major Indian travel booking platform.
• BelAircoreChannel Partner/ Reseller/ Distributor · 27 March 2026Travel platform partnership to expand distribution networks for Vietnam Airlines in the India market.
• K&L GatescoreImplementation/ SI/ Consulting Partner · 25 March 2026K&L Gates advised Vietnam Airlines on USD 8 billion aircraft purchasing agreement with Boeing for 50 Boeing 737-8 narrow-body aircraft. Law firm assisted with contractual provisions covering delivery, delay, performance, termination scenarios, liability limitations, and regulatory approvals.
• BoeingcoreTechnology or Integration · 19 February 2026Vietnam Airlines finalized $8.1 billion order for 50 Boeing 737-8 aircraft to be delivered 2030-2032, marking the carrier's first Boeing single-aisle purchase. The deal deepens strategic partnership and supports fleet modernization for domestic and regional network expansion. Combined with 787 Dreamliner fleet, Vietnam Airlines targets five-star international airline status by 2030.
• SkyTeam AlliancecoreStrategic or Co-development PartnerVietnam Airlines is a member of SkyTeam alliance, the global airline alliance providing customers extensive worldwide network coverage through 19 member airlines. Alliance enables code-share flights, frequent flyer program reciprocity, and coordinated services across global route network.
• LoungePairminorChannel Partner/ Reseller/ DistributorThird-party business lounge service provider. Lotusmiles business lounge service is provided by LoungePair, redirecting users to LoungePair website for lounge access bookings and partnerships.
• Booking.comminorChannel Partner/ Reseller/ DistributorHotel accommodation booking partnership through Booking.com integration on Vietnam Airlines website. Booking contracts are direct with Booking.com; Vietnam Airlines receives referral commissions.

Scale indicators8 records

Recent moves13 records

Expansion highlights6 records

Direct peers

• Singapore Airlines: Singapore's flag carrier and a SkyTeam partner of Vietnam Airlines; operates a comparable full-service network across Asia, Europe, and North America. The two carriers have a proposed metal-neutral commercial cooperation joint venture on Singapore-Vietnam routes, making them direct code-share and capacity-sharing partners.
• Philippine Airlines: Philippines' flag carrier offering full-service scheduled passenger flights across Asia, North America, Europe, and Oceania. Vietnam Airlines' subsidiary Pacific Airlines competes directly in the regional full-service segment against Philippine Airlines and its partners.
• Malaysia Airlines: Malaysia's national carrier operating scheduled full-service passenger flights across Asia, Oceania, Europe, and the Middle East. Competes directly with Vietnam Airlines on intra-ASEAN routes and provides comparable network carrier value proposition for Southeast Asian travelers.
• Thai Airways International: Thailand's flag carrier operating full-service scheduled passenger flights across Asia, Europe, and Oceania. Vietnam Airlines recently launched a new Ho Chi Minh City-Phuket route as part of a landmark tourism partnership with TAT, putting the two flag carriers into direct competition on key ASEAN trunk routes.
• Garuda Indonesia: Indonesia's flag carrier providing scheduled full-service passenger and cargo operations across Asia, Australia, Europe, and the Middle East. Comparable to Vietnam Airlines as a Southeast Asian national flag carrier with similar route structure and target customer segments.

Emerging players

• VietJet Air: Vietnamese low-cost carrier that is the primary domestic and regional competitor to Vietnam Airlines on price-sensitive leisure and VFR routes. VietJet's aggressive pricing is a direct driver of the domestic fare compression that has pushed Vietnam Airlines' yields to six-year lows.
• AirAsia: Asia's largest low-cost carrier group operating across Southeast Asia with hubs in Malaysia, Thailand, Indonesia, and the Philippines. AirAsia competes with Vietnam Airlines on intra-ASEAN price-sensitive leisure routes and serves overlapping customer segments in the same geography.
• Bamboo Airways: Vietnamese hybrid carrier that has competed with Vietnam Airlines on domestic trunk routes and select international services. Its earlier operations intensified the competitive pressure on Vietnam Airlines' domestic fares, contributing to the current six-year low pricing environment.

Broad incumbents

• Korean Air: South Korea's flag carrier and SkyTeam alliance member, operating a broad full-service network across Asia, Europe, and North America. Vietnam's 4.33 million South Korean visitors make Korean Air a major competitor for Vietnam-Korea traffic flows.
• Cathay Pacific: Hong Kong-based premium full-service network carrier operating a much larger international network across Asia, Europe, North America, and Oceania. Provides broader incumbent competition to Vietnam Airlines on long-haul premium routes and Asia transit traffic.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/VietnamAirlines
• YouTubeyoutube.com/c/VietnamAirlines
• Facebookfacebook.com/VietnamAirlines
• LinkedInlinkedin.com/company/vietnamairlines
• Instagraminstagram.com/vietnamairlines
• TikToktiktok.com/@vietnamairlines

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries3 records

Funding overview

Funding rounds3 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vietnam Airlines