A file photo of a VietJet Air airplane
Low-cost airline VietJet Air, Vietnam's second biggest carrier by market share, will have its initial public offering this year-end in the country instead of overseas, Tuoi Tre newspaper quoted an unnamed source as saying on Monday.
Early this year, international media quoted chief executive officer Luu Duc Khanh as saying that the airline wanted to raise US$800 million from an overseas IPO, either in Hong Kong or Singapore.
VietJet Air posted revenues of over VND5.7 trillion ($254.8 million) over the first six months of this year, up 205 percent from last year end, Khanh said at a meeting on Sunday.
The Hanoi-based carrier also saw the number of passengers more than doubled to reach 4 million during the same period.
It hopes to raise both its revenues by 245 percent and number of passengers by 225 percent in the second half.
VietJet Air has a 32 percent share of Vietnam's domestic market in the first quarter, the second biggest after Vietnam Airlines, which boasted 53 percent.
It currently has 26 aircraft on its fleet, which operate on 33 domestic and international routes to destinations in China, South Korea, Singapore, and Thailand.
The Hanoi-based carrier expects to receive six to 12 Airbus aircraft annually until the 100-jet purchase and lease order from last year is complete, it said early this year.