The CEO of Vietnam’s first private low-cost airline VietJet Air, Nguyen Thi Phuong Thao, is the one female US dollar billionaire in Southeast Asia after VietJet launched its initial public offering (IPO) in February 2017. It was recorded as the most important aviation company in Vietnam. AND AFTER.
Nguyen has led Vietnam’s only private low-cost carrier to rapid growth in lower than five years. VietJet now operates greater than 40% of the country’s flights. Its passenger numbers may surpass those of national carrier Vietnam Airlines.
Nguyen made the list with an estimated net price of $1.2 billion in earnings. FORBES currently estimates her net price at $1.7 billion. She is one among 56 women on this yr’s list FORBES World Billionaires who built their ten-figure fortunes; greater than half of them come from Asia.
Nguyen was educated in Soviet Russia within the Nineteen Eighties, where she studied economics and finance. After starting out trading commodities in Eastern Europe and Asia, she returned to Vietnam a decade ago and commenced investing in banks before turning to real estate projects in Ho Chi Minh City and resorts in central Vietnam.
Nguyen got here up with the thought of launching a low-cost airline while she was a salesman when she predicted that demand for air travel in Vietnam would increase.
“I spent 10 years studying aviation, meeting with CEOs of budget airlines like Jetstar, Air Asia and Southwest Airlines,” she said. She entered a market where just one company operated — Vietnam Airlines.
“I’ve always set big goals for myself and made big deals,” Nguyen said. FORBES Vietnam.
VietJet Air quickly gained popularity for its team of young flight attendants and daring branding strategy. Its flight attendants wore swimsuits on maiden flights to coastal destinations.
She and her partners then applied to ascertain the primary private airline in Vietnam, entering a market where just one company operated – Vietnam Airlines.
VietJet Air quickly gained popularity within the early days for its team of young flight attendants and daring branding strategy. Its flight attendants wore swimsuits on maiden flights to coastal destinations.
The airline currently offers 300 flights a day, including 63 domestic routes and dozens of international routes, and operates 45 planes. The company recently ordered greater than 200 planes price almost $23 billion from Airbus and Boeing.
It goals to remodel Vietjet into the “Asian Emirates”, offering flights to 150 destinations and the longest travel time on this planet.
Nguyen said to Vietnamese Network Bridge“They have a worldwide vision. Emirates is an airline from a small country, however it desires to dominate the world,” she said.
Nguyen admitted that dominating the worldwide market will mean moving away from the budget airline model, but she believes she will be able to achieve success without losing loyal customers who’re very price-sensitive with regards to Vietjet.
“We can increase cost efficiency while providing high-quality services,” Thao said. “Vietjet is confident that our service quality is no worse than other airlines in the world.”
