National carrier Vietnam Airlines has got the OK to shift its traded shares to the Ho Chi Minh Stock Exchange.
The airline’s 1.4 billion shares are currently traded on the Unlisted Public Company Market.
It will move them to the Ho Chi Minh Stock Exchange subject to a final approval by the government.
Its current share price puts a value of about $2.5 billion on the airline.
The Vietnam government still owns about 86% but is looking to decrease this to a maximum of 51%.
It posted record ticket revenues of US$4.17 billion last year and is adding 22 new aircraft in 2019 to bolster its fleet size to 112.
However it is facing intense competition with experts saying the domestic market is reaching saturation point.
New startup Bamboo Airways launched earlier this year and AirAsia will soon debut as part of a Vietnamese joint venture.
Vietnam Airlines now has its sights on long haul overseas expansion now that Vietnam has bagged a FAA category 1 rating, allowing the country’s airlines to fly nonstop to the US.
It hopes to start direct flights to Los Angeles or San Francisco from Ho Chi Minh City sometime next year.
