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VietJet Soars Past Vietnam Airlines in Market Value

VietJet, Vietnam’s famed “bikini airline,” recently saw shares surge to 137,400 dong ($6.03) – making its total market capitalization $1.8 billion. This makes it more valuable than the country’s state-owned Vietnam Airlines, which is valued at $1.7 billion.

Prices have been converging in an almost poetic manner – VietJet started the year at $1.4 billion and rose, whereas Vietnam Airlines started at $2.1 billion and fell. Rarely does the story of an upstart dethroning an incumbent manifest itself so swiftly in capital markets.

Presently, VietJet trades at Price-To-Earnings (P/E) ratio of 15.75. Vietnam Airlines still harbors a P/E ratio of 16.63. The CAPA Centre for Aviation expects VietJet, which presently commands 40 percent of Vietnam’s aviation market, is to become the nation’s largest carrier by the end of the year.

Stock analysts are expecting the shares to soar as high as 143,000 Dong. “The VietJet story just begins so investors still have a lot of expectations on its shares,” says Nguyen Van Dung, manager of securities consulting at Saigon Securities.

To learn more about VietJet’s success, peruse our article of three lessons from its renowned CEO, Nguyen Thi Phung Thao VietJet CEO’s Three Lessons of Success.


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