Vietnamese budget airline slashes prices amid Asian market capacity crash

50% discount offered on all flights across Asia region as passenger demand in the market evaporates
Vietjet, Asia-Pacific, Coronavirus

Vietnamese budget carrier Vietjet has cut prices by 50% on routes across Asia up to the end of April.

The company said the promotion is designed to “bring people and tourists opportunities to experience new destinations”.

The discount is being applied to all domestic flights within Vietnam and Thailand as well as all international routes connecting Vietnam/Thailand with destinations around Asia such as India, Japan, South Korea, Indonesia, Taiwan, Singapore, Malaysia, Myanmar and Cambodia.

Asia-Pacific carriers are some of the hardest hit by the coronavirus outbreak and capacity in the region has plummeted amid travel bans.

IATA has estimated that Asia-Pacific carriers face a combined blow of $27.8 billion to revenues. Airlines in the region are expected to see a 13% full-year loss in passenger demand.

Earlier this month Vietjet suspended all flights to and from mainland China. But the airline continues to operate all of its other international routes, including services to and from Hong Kong and Taiwan.

Vietjet said it has worked closely with authorities such as healthcare departments and airports to help prevent the spread of the virus.

In 2019 Vietjet turned over $1.7 billion and made a profit of $170 million, which was a substantial improvement on 2018's results.

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