The saturated aviation market has brought about the race to the bottom price war, driving the profitability of the core business of some domestic carriers down to nearly zero.
Malaysian low-cost carrier AirAsia and Vietnam’s Thien Minh Group on Thursday signed a memorandum of understanding (MoU) to launch a new low-cost airline in Vietnam.
Bamboo Airways and the air carrier run by the joint venture between Thien Minh Group & AirAsia both announced they would take off in 2018. However, the latter has vanished, while the former has delayed its first flights to the year end.
Many Vietnamese tycoons have won battles with foreign businesses, successfully preventing foreigners’ hostile takeover attempts.
Private Vietnamese air carriers are the leading corporations in the field of tourism and resort real estate. Sovico Holdings has Vietjet, Thien Minh Group has Hai Au, and FLC is moving ahead with Bamboo Airways project.
![Thien Minh Group acquires Victoria Hotels]()
Thien Minh Group, a leading tourism and hospitality investment company whose core business is in Vietnam and Southeast Asia, has acquired five properties of Victoria Hotels and Resorts from the owner EEM Victoria Hong Kong.
