VietJet Air

VietJet Air was founded in 2007 by Nguyen Thi Phuong Thao, although the airline did not receive its operating license until 2011 due to regulatory delays in Vietnam's tightly controlled aviation sector. VietJet launched its first commercial service on December 25, 2011 between Ho Chi Minh City and Hanoi — the most lucrative domestic route in Vietnam — immediately challenging Vietnam Airlines with dramatically lower fares. The launch was controversial: a promotional flight featured models in bikinis, generating enormous publicity (and regulatory fines) while establishing VietJet's reputation for provocative marketing. VietJet grew explosively through the 2010s, adding domestic Vietnamese routes and international connections to neighboring countries.

The airline went public on the Ho Chi Minh City Stock Exchange in February 2017 in one of Vietnam's largest-ever IPOs, valuing VietJet at approximately $1.2 billion. By 2019, VietJet had become Vietnam's largest domestic carrier, overtaking Vietnam Airlines. Founder Nguyen Thi Phuong Thao became Vietnam's first female billionaire through her VietJet stake, and one of Forbes's most powerful women in the world.