The value of Vietnam’s ‘bikini airline’ overtakes national carrier:
Vietnamese private budget airline VietJet’s VJC.HM market capitalisation surpassed that of state-owned Vietnam Airlines HVN.HNO on Monday, only a week after it was listed.
VietJet grabbed headlines with bikini-clad flight attendants when it was launched in 2011 and its success on the Ho Chi Minh stock exchange reflects its rapid ascent since.
It has become known in Vietnam as the “bikini airline” and female crew do still wear them, but only on some flights.
Its market share is expected to top that of Vietnam Airlines this year, a feat it has achieved by tapping into a fast-growing economy and a young population starting to travel more.
The listings of VietJet and Vietnam Airlines were part of the government’s push on privatisation to boost investment.
Vietnam, which is slowly opening up its domestic market amid considerable investment interest, has completed several major share sales and listings in recent months, including a $3.72 billion flotation of its top brewer Sabeco SAB.HM in which the government owns nearly 90 percent.