KUALA LUMPUR, Oct 17 — Tan Sri Tony Fernandes, CEO of Capital A Bhd, is in early-stage discussions to acquire a stake in Vietnam Travel & Marketing Transports JSC, better known as Vietravel, Bloomberg reported today.
People familiar with the matter said discussions revolve around AirAsia taking a small interest in Vietravel, noting that Vietnam caps foreign ownership of carriers at 34 per cent.
“The discussions aren’t final and may change,” the sources said, speaking on condition of anonymity due to the private nature of the talks.
Representatives for AirAsia did not respond to a request for comment.
Vietravel confirmed it is “actively negotiating with aircraft manufacturers and international airlines to expand its fleet and routes,” but did not elaborate on any potential transaction.
The company said the outcome of any talks would be announced in due course.
Fernandes, speaking on Wednesday in Jakarta on the sidelines of the Forbes Global CEO Conference, said talks were “progressing very well” with a single partner, adding, “We’re down to a few more terms and then ready to execute a term sheet.”
Vietnam is one of the region’s fastest-growing aviation markets.
Passenger volumes have surged in the post-pandemic era, driven by a growing middle class, rising domestic travel demand, and robust inbound visitors from countries including China, South Korea, and India.
The market is competitive. This week, new entrant Sun PhuQuoc Airways announced plans to acquire 100 Airbus SE and Boeing Co. jets within five years. Vietnam Airlines JSC and budget carrier VietJet Aviation JSC dominate the skies, while Bamboo Airways JSC is also seeking expansion.
AirAsia previously attempted a joint venture in Vietnam with Gumin Co. and Hai Au Aviation JSC in 2019 but terminated the arrangement.
Fernandes has maintained interest in Vietnam, citing its strategic location and growth potential.
Last month, he reiterated that discussions with a local partner are ongoing but no agreement has been finalised.
“It is no secret that I have wanted to operate in Vietnam for a long time. As an Asean airline, it is only logical for us to be in one of the most promising countries in the region,” Fernandes said during the Asean Economic Ministers’ Meeting 2025 in September.
Malay Mail – Money
