Just a week after its listing on the Ho Chi Minh City Stock Exchange (HOSE), VietJet’s value surpassed that of Vietnam Airlines.
According to Reuters, the budget carrier was valued at US$1.8 billion to Vietnam Airlines’ US$1.7 billion. This is a strong increase from VietJet’s first trading day, when the company was valued at US$1.4 billion compared to US$2.1 billion for the national carrier.
Moving forward, analysts project VietJet shares could climb as high as VND143,000. The budget airline is also expected to surpass Vietnam Airlines as the country’s leader in domestic travel.
Beyond market shares, VietJet is charging ahead with its plan to create an aviation technology center in Saigon and has plans to open a new route between Saigon and New Delhi later this year, according to Vietnam News.
[Photo via Saigon Giai Phong]
