The world's leading low-cost airline wants to enter the Vietnamese market.

Tony Fernandes, CEO of Capital A Bhd, the parent company of AirAsia, said the company wants to be present in both Singapore and Vietnam markets even as it admits it will not be the biggest player there, according to Bloomberg.

AirAsia has operations in Malaysia, Philippines, Indonesia, Thailand and Cambodia.

Vietnam currently has 5 airlines including Vietnam Airlines , Vietjet Air, Bamboo Air, Vietravel Airlines and Pacific Airlines

AirAsia operates more than 300 weekly flights to and from Vietnam, including routes to Thailand and Malaysia. However, establishing a low-cost airline in the Vietnamese market has always been AirAsia’s ambition. Previously, the company had planned to establish a low-cost airline joint venture in the Vietnamese market four times but all failed.

Most recently, in 2019, AirAsia Investment, Gumin and Hai Au terminated their obligations related to the agreement to establish an airline joint venture in Vietnam.

Air Asia was founded in 2001 when it bought a bankrupt airline with only a few planes. Since then, AirAsia has quickly grown to become the largest low-cost airline in Southeast Asia and has the best service quality in the world .

Last year, AirAsia was voted the world's best low-cost airline for the 14th consecutive year at the Skytrax World Airline Awards.

AirAsia's fleet size is more than 200 aircraft, making it the largest airline in Malaysia and the fourth largest in Asia by fleet size and destinations. AirAsia operates scheduled domestic and international flights to more than 166 destinations spanning 25 countries.

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