Thai Vietjet Air
Thai Vietjet Air is a Thai-registered low-cost carrier operating as a joint venture between Vietnam's Vietjet Aviation and Thai partners. Operates scheduled domestic routes within Thailand and regional international routes across Southeast Asia from Bangkok (Suvarnabhumi and Don Mueang) and secondary Thai airports. Competes in the Thai LCC segment against AirAsia Thailand, Nok Air, and Lion Air Thailand. Part of Vietjet's pan-ASEAN multi-hub strategy alongside Vietjet Aviation (Vietnam). Subject to Civil Aviation Authority of Thailand (CAAT) licensing and IATA operational standards.
Snapshot
Headline numbers a buyer checks first.
Founded
2014
AOC granted
Thai-registered JV; Vietjet holds up to 49% per CAAT rules
Fleet size
~15-20 aircraft
2024
Airbus A320/A321 family
Primary hub
Suvarnabhumi (BKK)
2024
Thai domestic market share (est.)
~8%
2024
By passengers; strong on Vietnam corridor
Profile overview
Thai Vietjet Air is a Thai-registered low-cost carrier operating as a joint venture between Vietnam's Vietjet Aviation and Thai partners. Operates scheduled domestic routes within Thailand and regional international routes across Southeast Asia from Bangkok (Suvarnabhumi and Don Mueang) and secondary Thai airports. Competes in the Thai LCC segment against AirAsia Thailand, Nok Air, and Lion Air Thailand. Part of Vietjet's pan-ASEAN multi-hub strategy alongside Vietjet Aviation (Vietnam). Subject to Civil Aviation Authority of Thailand (CAAT) licensing and IATA operational standards.
Network and operations
Domestic
Thai domestic LCC routes
Operates scheduled domestic routes from Bangkok Suvarnabhumi and Don Mueang to Chiang Mai, Phuket, Hat Yai, and secondary Thai cities. Fleet of 15-20 Airbus A320/A321 family aircraft as of FY2024.
Regional
ASEAN international network
Regional routes connecting Bangkok to Hanoi, Ho Chi Minh City, Da Nang, Kuala Lumpur, Yangon, and other Southeast Asian cities. Leverages Vietjet Aviation's Vietnam-ASEAN route network for connecting traffic.
Structure
Thai-registered JV
Vietjet Aviation (Vietnam) holds up to 49% foreign stake; Thai partner(s) hold majority per Civil Aviation Authority of Thailand (CAAT) ownership rules. Thai Air Asia operator certificate; independent from parent Vietjet's Vietnam AOC.
Positioning
Third LCC in Thai market
Competes against Thai AirAsia (dominant), Nok Air, and Lion Air Thailand for LCC passengers. Bikini-promo marketing style from Vietnam origin adapted for Thai market; predominantly price-sensitive leisure travellers.
Thai LCC competitive landscape
FY2024 estimates
Thai Vietjet
Lion Air Thailand
Thai ownership structure
Thai JV, Lion Air Group (49%)
Hub
Don Mueang
Fleet (aircraft)
~10-15
Domestic share (est.)
~5%
| Airline | Thai ownership structure | Hub | Fleet (aircraft) | Domestic share (est.) |
|---|---|---|---|---|
| Thai AirAsia | SET:AAV (55%), AirAsia (45%) | Don Mueang | 35-45 | ~35% |
| Nok Air | SET:NOK (Thai Airlines) | Don Mueang | ~20 | ~18% |
| Thai Vietjet | Thai JV partners, Vietjet (49%) | Suvarnabhumi | ~15-20 | ~8% |
| Lion Air Thailand | Thai JV, Lion Air Group (49%) | Don Mueang | ~10-15 | ~5% |
Key drivers 2025-2026
Growth
Vietnam-Thailand corridor demand
Thai-Vietnamese bilateral air travel is among the fastest-growing intra-ASEAN corridors; ~4M passengers annually and growing 15% per year. Thai Vietjet uniquely positioned to capture this through parent brand recognition among Vietnamese travellers.
Competition
Don Mueang slot congestion
Don Mueang is Bangkok's secondary LCC airport; slot congestion limits capacity additions for Thai AirAsia and Nok Air. Thai Vietjet's Suvarnabhumi base provides access to international-focused passengers but higher costs.
Cost
Fuel cost and fleet age
Fuel efficiency gap between A320ceo (older fleet) and A320neo (newer) is ~15-18% per seat-kilometre. Fleet renewal cadence will determine Thai Vietjet's unit-cost competitiveness vs Thai AirAsia's newer NEO fleet.
Where this profile is featured
Reports that reference this entity in their operator concentration or analysis.
Featured in
Thai Aviation Beyond AAV: Thai Airways, Bangkok Airways, Nok, Vietj...
Vietjet-affiliated Thai LCC.
Featured in
AirAsia Thailand (AAV): Budget Airline Recovery and Capacity Build
Vietjet-affiliated Thai LCC.
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Thai Airways International
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Competitor
Nok Air (SET: NOK)
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Competitor
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Reports featuring this profile
Thai Aviation Beyond AAV: Thai Airways, Bangkok Airways, Nok, Vietjet, and Lion Air
Vietjet-affiliated Thai LCC.
Open report →
Sits alongside 5 other Atlas profilesAirAsia Thailand (AAV): Budget Airline Recovery and Capacity Build
Vietjet-affiliated Thai LCC.
Open report →
Sits alongside 5 other Atlas profilesRelated Market profiles
competitor
Thai Airways International
Thailand's flag full-service carrier; post-2023 court rehabilitation; FY2024 revenue ~THB 180B.
competitor
Nok Air (SET: NOK)
Thai-listed low-cost carrier (SET: NOK); operates 25+ domestic routes from Don Mueang, controlling approximately 15% of Thai domestic LCC seat share as of 2024.
competitor
Thai Lion Air
Thai low-cost carrier subsidiary of Lion Air Group (Indonesia); operates domestic routes from Don Mueang and regional ASEAN routes as of 2024.