AirAsia cancels plan to enter Vietnam aviation market
Malaysia's AirAsia Group Bhd has announced to cancel its plan to enter Vietnam's aviation market, but said it was still keen on running a budget carrier in the country.
An AirAsia aircraft (Source: themalaysianinsider.com)
Hanoi (VNA) - Malaysia's AirAsia Group Bhd has announced to cancel its planto enter Vietnam's aviation market, but said it was still keen on running a budgetcarrier in the country.
Ina statement on April 17 quoted by Reuters, the Malaysian low-cost airline saidit had ended an agreement with Gumin Company Ltd and Hai Au Aviation to set upa low-cost carrier. The pact was signed in March 2017. Previously, AirAsia hadplanned for the venture to start operation in Vietnam by August this year.
Ina tweet, AirAsia Group Chief Executive Tony Fernandes said Vietnam remains"very much in the plan" and he is still optimistic of AirAsia’spresence in Vietnam by end of the year.
Vietnamis one of Asia's fastest-growing economies and air travel is booming, withdomestic and inbound passenger numbers rising at double-digit rates in 2018.
AirAsiasaid it remains interested in running a low-cost airline in Vietnam due to localfavourable geographical location, expanding aviation market, and overall growthpotential.
However,the launch of a fifth Vietnamese airline – Bamboo Airways – in January hasintensified competition and added strain to the country's aviationinfrastructure.-VNA
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An AirAsia aircraft (Source: themalaysianinsider.com) 
