New aviation startup Vietravel Airlines will launch services next year.
The airline is a new venture from tour operator Vietravel and it enters a highly competitive Vietnam aviation market.
CEO Vu Duc Bien said the airline will order either Airbus A321neo or Boeing 737 aircraft and has identified Japan, South Korea, Southeast Asia, Australia and China as key markets.
It hopes to have a fleet of about 10 aircraft within five years.
It has raised about VND700 billion ($30 million) in a bond sale, and will sell a stake of up to 34% within one year of launching to fuel further expansion.
Bien said it will only sell to a domestic investor, adding that several foreign entities have already approached the company looking to buy a stake.
"We want to build a purely Vietnamese airline," Bien told Reuters.
