Midterm report subject basic marketing theme vietjet joint stock company

VIETNAM-KOREA UNIVERSITY OF ICT FACULTY OF DIGITAL ECONOMY AND E-COMMERCE  MIDTERM REPORT SUBJECT: BASIC MARKETING THEME: VIETJET JOINT STOCK COMPANY Instructor: Ngo Hai Quynh Students: Ho Thi Ngan Pham Xuan Quynh Hoang Hong Ngoc Nguyen Dang Linh Dan Class: 21GBA – Group Exterminators Da Nang, April 7, 2022 VIETNAM-KOREA UNIVERSITY OF ICT FACULTY OF DIGITAL ECONOMY AND E-COMMERCE        MIDTERM REPORT SUBJECT: BASIC MARKETING THEME: VIETJET JOINT STOCK COMPANY Instructor: Ngo Hai Quynh Students: Ho Thi Ngan Pham Xuan Quynh Hoang Hong Ngoc Nguyen Dang Linh Dan Class: 21GBA – Group Exterminators Da Nang, April 7, 2022 PREAMBLE Building a marketing strategy is an extremely important task of every business in order to most effectively achieve three main goals: profit, location and safety In the everexpanding market economy, with increasingly fierce competition, a business that wants to maintain its strength and development needs to be able to maximize its resources and manage all its resources factors to achieve the intended goals Through marketing strategies, businesses can take advantage of internal resources, find attractive market opportunities, improve operational efficiency and improve competitiveness In recent years, Vietnam's aviation industry has made great progress in both quantity and quality This result is influenced by many factors, in which marketing activities account for an important but still limited proportion in business activities of enterprises This is very remarkable Because under the current market structure, new suppliers will flood the market, increasing the level of competition Aware of this problem and what we learned in the lecture hall, our team chose VietJet Air as the subject of the mid-term report TABLE OF CONTENTS PREAMBLE IMAGE CATEGORIES PART 1: GENERAL INTRODUCTION TO VIETJET AIR .4 1.1 History of formation and development of VietJet Air 1.2 Vision and mission .4 1.3 Operational efficiency 1.3.1 Business situation in 2020 1.3.2 Business situation in 2021 PART 2: MICRO-ENVIRONMENTAL ANALYSIS 2.1 Suppliers 2.2 Consumers 2.3 Competitors 10 2.3.1 Vietnam Airlines 10 2.3.2 Jetstar Pacific Airlines 11 2.4 Pressure 11 2.5 Strengths 12 2.6 Weaknesses 15 2.7 Opportunities and Threats 16 CONCLUDE 18 REFERENCES 19 IMAGE CATEGORIES Image 1.1 The business model map Image 1.2 Total domestic and international market share in Vietnam over the years 13 Image 1.3 Growth in passenger volume over the years 13 Image 1.4 Net revenue 15 PART 1: GENERAL INTRODUCTION TO VIETJET AIR Introduction Vietjet Aviation Joint Stock Company was established from 03 main shareholders: T&C Group, Sovico Holdings and Development Joint Stock Commercial Bank Ho Chi Minh City House (HD Bank) with initial charter capital of 600 billion VND (equivalent to 37.5 million USD at the time of capital contribution) The airline was approved by the Minister of Finance for a license in November 2007 and became the 4th airline of Vietnam after Vietnam Airlines, Jetstar Pacific and Vietnam Aviation Service Company (VASCO) On December 20, 2007, the Minister of Transport of Vietnam awarded the certificate Air transportation business license for VietJet Air 1.1 History of formation and development of VietJet Air November 2007: The airline was established with an initial charter capital of 600 billion VND (equivalent to 37.5 million USD) December 2007: The airline was officially licensed to operate December 5, 2011: Opening sale of air tickets for the first time December 25, 2011: First flight from Ho Chi Minh City, Ho Chi Minh to Hanoi February 10, 2013: VietJet Air officially opened a route to Bangkok June 26, 2013: VietJet Air established an airline joint venture in Thailand October 23, 2014: Honored to receive the Top 10 best airlines in Asia January 31, 2015: Welcoming the airline's 10 millionth passenger May 23, 2016: Completed the order for 100 Boeing 737 MAX200 aircraft November 8, 2017: Witnessing the new operator certificate in Thailand and announcing the route DaLat - Bangkok March 16, 2018: VietJet Air announced a plan to open a direct route between Vietnam and Australia 1.2 Vision and mission Vision: Vietjet Air builds a vision to become an airline group multinational, has a wide flight network throughout the region and the world, developing not only aviation services, but also providing consumer goods on commercial platforms ecommerce, is a brand loved and trusted by customers Mission: Exploiting and developing a wide network of routes in the country and in the region and international Bringing a breakthrough in air services Make goods service does not become a popular means of transportation in Vietnam and internationally Bring pleasure, satisfaction for customers by superior service, luxury and friendly smile Core values: Safe - fun - cheap - on time During more than 10 years of operation, Vietjet Air has received many awards, certifications such as: “Top 500 leading brands in Asia 2016”, “A brand Best low-cost airline in Asia 2015" (voted by TTG Travel Awards), "Airline" favorite airline in Vietnam" (Economic Times voted) In addition, for many years in a row, the company has been voted as "Best place to work" and "Asia's Best Employer Brand" Vietjet Air also received certificates of merit and emulation flags from the Prime Minister for those who contributed to the airline's contribution to the domestic aviation industry 1.3 Operational efficiency 1.3.1 Business situation in 2020 At the end of the fourth quarter of 2020, VietJet achieved a profit after tax of the parent company of VND 274 billion, consolidated profit after tax of VND 995 billion For the whole year of 2020, Vietjet achieved a consolidated after-tax profit of VND 70 billion, being one of the few airlines in the world that did not lay off employees and operated profitably in 2020 VietJet's financial statements also recorded ancillary revenue structure reaching nearly 50%, showing that the airline has increased ancillary services to offset ticket revenue According to the report, Vietjet has total assets of 47,036 billion VND, owner's equity reaches 17,326 billion VND including treasury shares, very low debt/equity ratio, only 0.66 times and liquidity ratio Current account continues to remain at 1.2 times, a good level in the world aviation industry In 2020, VietJet has converted a number of aircraft configurations into cargo transport, applying a new mode of operation to enhance the fleet's cargo capacity The airline is also the first airline to be approved by the authorities to carry cargo in the cabin The airline has transported more than 60,000 tons of goods internationally Sales of domestic and foreign goods in the fourth quarter of 2020 increased rapidly, reaching 75%, the whole year grew by 16% Through codeshare agreements, Vietjet's goods have gone to the Americas and Europe - destinations that the airline had only previously planned These results have helped Vietjet to be honored by Air Transport magazine Payload Asia as "Best Cargo Airline of the Year" and "Low-Cost Airline with Low-Cost Airline Operations" best merchandise of the year” 2020 also marks the commissioning of Vietjet Ground Operations Center (VJGS) at Noi Bai International Airport VJGS helps Vietjet improve quality, service, synchronize brand identity and manage operating costs well VietJet has launched products and services to help passengers choose more flexible journeys such as Power Pass unlimited flights, upgrade with Power Pass Skyboss or more utilities with Skyboss and Deluxe ticket classes VietJet drastically implements cost-saving programs, such as optimizing fleet operations to reduce costs by 10%, negotiating unit price reductions of 20% - 25% with suppliers, and cutting operating costs by 10% In addition, Vietjet successfully implemented a program to buy and store gasoline, helping to reduce costs by 25% compared to the market VietJet decided to transfer its investment portfolio and some assets accumulated in the previous time to focus capital, cash and nurture resources to recover when aviation rebounds In 2020, the airline operated 78,462 flights with 120,093 safe flight hours, transporting more than 15 million passengers With the thorough application of safety regulations on epidemic prevention and control of WHO and authorities, in 2020, all Vietjet staff and passengers will be safe VietJet recorded positive results such as seat occupancy rate of over 80%, punctuality rate of over 90% - the highest rate in the world VietJet is an airline with technical reliability of 99.64%, rated 7/7 stars in terms of safety, voted by Airlineratings as the safest low-cost airline in the world in 2020 Besides commercial activities, Vietjet participates in many charity activities, supporting passengers and the community, spreading the spirit of good living and beautiful living of VietJet people to domestic and international communities Entrepreneur Nguyen Thi Phuong Thao, CEO of VietJet, has been honored as one of the 110 most influential people in Asia in charity work 1.3.2 Business situation in 2021 Recently, VietJet Aviation Joint Stock Company has announced the company's financial report for the first quarter of 2021 Accordingly, VJC's net revenue reached VND 4,969 billion, down 60.76% over the same period last year Meanwhile, COGS in the period increased to 5,078 billion dong Doing business below cost, VietJet reported a gross loss of 108.9 billion dong, while in the same period reported a profit of 1,205 billion dong In the second quarter of 2021, the company's revenue from financial activities was the brightest point Specifically, the business recorded revenue from financial activities up to 1,174 billion VND, 8.2 times higher than the same period in 2020 Besides, other income of VJC also increased sharply, reaching 413 billion VND VND, 23 times higher than the same period last year This is a bright spot in the business activities of the enterprise in the face of the heavy impact of the Covid-19 pandemic on the entire civil aviation industry in general After deducting expenses, VietJet reported a profit of VND 1,063 billion in the second quarter of 2021, twice as high as in the same period of 2019 Despite being affected by the epidemic, VietJet Air's business situation is considered very positive PART 2: MICRO-ENVIRONMENTAL ANALYSIS 2.1 Suppliers Safran Electronics & Defense provides services and training programs for Vietjet's technical team, and supports the airline in establishing Vietjet's training and engine repair and maintenance complex in Vietnam Especially, Vietjet and Safran will accelerate cooperation and provide Vietjet with comprehensive and effective flight information analysis (Flight Data Analysis) solutions Cooperation agreement between Vietjet and SR Technics on providing technical services to the fleet including technical training and supply services, aircraft spare parts supply and repair, and cooperation plan operate the Aviation Training Academy in Vietnam of the two sides ST Engineering provides Vietjet with a comprehensive set of support solutions for aircraft equipment maintenance, including equipment supply, repair, overhaul, upgrade, improvement, and storage of supplies for main maintenance stations, equipment status tracking and logistics for the airline's entire fleet VietJet's ticketing system is managed and developed by Intelisys (Canada) To manage risk and detect credit fraud and verify internet bookings The company uses Gatekeepers software provided by Mastercard Mastercard is one of the world's leading credit card service providers, processing more than 30 million transactions per month for 30,000 companies in 180 countries around the world Flight safety analysis operations are managed by the EFB system provided by Airbus EFP helps the crew to be updated with information on flight safety and flight management as quickly as possible For operations, Geneva software helps VietJet optimize its resources in terms of flight schedules, crew schedules, and flight time control In addition, the company also uses Sunsystems to manage accounting and finance Swiss-AS and its member companies provide Vietjet with services using the platform of AMOS software on mobile devices, fully automating and digitizing the work of Vietjet's engineers In addition, the airline will increase the use and update of AMOS tasks on automatic planning and aircraft operation scheduling, optimizing maintenance budget management VietJet also signed a comprehensive cooperation agreement with Amadeus - a leading technology partner in the field of global aviation and tourism Accordingly, VietJet will expand its flight network and distribution channel globally and connect with more than 446 other airlines in the same system of Amadeus Through Amadeus' agent network, VietJet will provide information about products, services, and promotions on domestic and international flights that VietJet is operating 2.2 Consumers Vietjet Air has two customer segments: One is the consumer segment who needs to travel by plane The second is the business segment, which are companies that have a need to transport goods by air Consumer Segment: Image 1.1 The business model map Vietjet Air's target customers are those who need to travel long distances with low cost They move for family, work or travel reasons Because the need to save money plays an important role for this potential customer segment, they are willing to trade off other needs such as comfort, convenience, good care, etc The largest group of people with this need are those with low and middle income Here Vietjet Air has a very different customer segment than Vietnam Airlines Those are people who have little money, before they did not or very little use Vietnam Airlines because of high ticket prices Their main means of transportation are long-distance coaches or trains For this customer segment, cost savings are the most important factor, and they are willing to trade them for other needs such as food service, entertainment, comfort, attentive service… 2.3 Competitors Currently, in the context of the aviation industry market becoming more and more exciting with the participation of many new airlines, the competition for market share of domestic airlines is increasingly fierce At that time, customers will have many choices to meet their needs and ability to pay Therefore, factors such as price, service attitude of staff, flight services, safety and especially punctuality of each flight will lead to customer’s decisions Any airline that better captures and understands the psychology of target customers and meets their wants or needs, is the leading airline in the airline industry According to statistics on the market share of Vietnam's aviation industry by the end of 2019, VietJet Air's two biggest competitors are Vietnam Airlines (accounting for 35.9%) and Jetstar Pacific Airlines (accounting for 13.9%) 2.3.1 Vietnam Airlines Advantage: And as you can see Vietnam Airlines is the strongest and most formidable competitor of VietJet Air Considered a big player in the aviation industry Vietnam Airlines is not only appreciated for its service quality, professionalism and world-class quality, but also loved for its social activities and community benefits that the airline has carried out since its inceptioninception active up to now A few outstanding advantages that help Vietnam Airlines score points and be the choice of customers such as the extremely professional service attitude of the staff as well as the flight attendants, a snack service that ensures quality and hygiene food on every flight, newspapers for passengers to read to relax and entertain, or airline tickets always have 20kg of checked baggage, Moreover, Vietnam Airlines has a wide flight route the whole country to tourist destinations and the island plateau Defect: The ticket price for each flight of Vietnam Airlines is relatively higher than that of VietJet Air It is also a weakness of Vietnam Airlines, although the target customers it targets are people with high income, but the average income of people Vietnam is not high and Vietnamese consumers tend to choose products and services that are affordable, cheap and have more promotions and incentives 2.3.2 Jetstar Pacific Airlines Advantage: Jetstar Pacific Airlines is a pioneer airline providing low-cost airline services to the Vietnam market, making the concept of air travel less luxurious, reaching a large number of high-income customers average income, not just high-income customers like Vietnam 10 Airlines targets The company also has capital advantages with the participation of foreign partners Besides, the system of booking through the website was also first exploited by Jetstar in Vietnam Defect: The airline's domestic routes are quite small, with only destinations, and the frequency of flights is not as much as Vietnam Airlines or VietJet Air In addition, the frequent delays of flights, unstable flight plans, rumored aircraft of poor quality, "whatever it's worth" of Jetstar are also complained a lot by customers in the newspapers newspapers or social networking sites 2.4 Pressure VietJet Air is the first private airline in Vietnam licensed to fly domestically and internationally, operating under the low-cost airline model (LowCost Carrier) with the core product offering criteria transport at lower and more competitive fares than traditional airlines With the motto of creating many flight opportunities at low prices, VietJet Air always focuses on improving the quality of passenger service while ensuring good cost control through reducing aircraft turnaround time, improving energy efficiency, and increasing productivity, productivity of each employee in order to optimize operating costs and return added value to customers Recently, airlines in general and VietJet Air in particular have received conflicting information about the quality of air transportation services due to technical problems with aircraft and the subjectivity of staff air This had a significant impact on the airline's business After that incident, VietJet Air became the "champion" of delay with 10,235 flights taking off on time, accounting for 17% of the total number of flights In the first months of 2018, an increase of 2.6% compared to the same period in 2017 Leading to a decrease in Vietjet Air's profit and revenue due to the lack of aircraft sales and re-renting (2018 data) and this It is also a factor that helps vietjet air be mentioned more and known by many people When the open trend of the aviation service supply market is gradually becoming a common trend, it has set requirements for VietJet Air, isn't it? stop improving the quality of its air transportation services in order to attract more new customers and create sustainable development Recognizing the importance of improving the quality of air transportation services of VietJet Air, it is imperative to improve the system and overcome the current situation to ensure customer satisfaction and profit The difficulties show that airlines are worried about debt pressure due to the impact of the COVID-19 epidemic The outbreak of the pandemic has greatly affected airlines in general and vietjet air in particular, the busy isolation of people and limited travel demand, leading to the freezing of the aviation industry, making airlines difficult to operate Businesses face many difficulties 11 Any airline is currently "hungry" for preferential capital As VietJet is having to bear debts to pay during the time it has to stop and reduce the number of flights due to social distancing; in which, there are payables due to the payment of long-term bonds with high interest rates Total overdue debts and short-term loans of VietJet amounted to many trillions of dong Since the outbreak of the epidemic until now, the revenue of airlines has continuously decreased, currently only less than 10-20% compared to before the epidemic 2.5 Strengths Low-cost airline VietJet (VietJet Air) is one of the most profitable businesses in Vietnam However, not everything surrounding VietJet Air is rosy Like every other corporation, VietJet Air also has fatal weaknesses and challenges that are not easy to overcome The first strength of VietJet is that it has quickly acquired market share in Vietnam one of the fastest growing aviation markets in Asia and the world since the launch of VietJet (2013) GDP has grown at least 5% per year since VietJet came into operation, accompanied by a constantly growing income level and the population of the middleincome group The young middle class is also growing, giving the airline an inexhaustible source of customers Many people have switched from vehicles such as coaches and long-distance trains to airplanes From a modest 12 million passengers in 2012, to 2016 the number of passengers served by Vietnam's aviation industry has increased to 28 million, equivalent to an annual growth exceeding 30% And if you include international flights In fact, passenger volume more than doubled, from 25 million in 2012 to 52 million in 2016 From the start-up position, VietJet has risen to the top of the market in a short time - years At the same scale, it took low-cost carrier Cebu Pacific more than a decade to overtake Philippines Airlines, and even AirAsia took six years to rise to the top in Malaysia In 2016, VietJet had more than 14 million passengers, including about 12 million domestic passengers VietJet is expected to carry 17 million passengers in the whole of 2017, carry 25 million passengers in 2018 and reach 30 million in 2019 12 Image 1.2 Total domestic and international market share in VN over the years In 2016, their domestic market share was on par with Vietnam Airlines, each holding 42% With an average market like Vietnam (20 million passengers), it's a surprising achievement for Vietjet to take the lead in just years Image 1.3 Growth in passenger volume over the years (millions of people) VietJet's second strength is one of the cheapest airlines in Asia and the world In the first months of 2017, the cost of available seat per 1km (CASK) of the airline 13 was less than cents (9o9 dong), eliminating fuel costs even lower This is especially beneficial in Vietnam, which is price sensitive and has low margins In the world, there are only a few low-cost airlines with low CSKA like Vietjet Air: AirAsia, Wizz Air, Ryanair and Cebu Pacific Low costs have allowed Vietjet to establish profitability at a very early stage Vietjet has been profitable since mid2013 and profits have steadily increased since then (CSKA excluding fuel and CSKA including Vietjet's fuel.) Vietjet reported pre-tax profit more than doubled in 2016, reaching 2,239 trillion VND (106 million USD) In the first months of 2017, pre-tax profit increased by 45%, reaching 1,907 trillion VND (84 million USD) CAPA forecasts that VietJet's costs will continue to decrease in the future because its large fleet will help improve its advantages of scale and more importantly, VietJet is adding more wide-ranging aircraft As the level of competition in the Vietnamese aviation market becomes more fierce, the scale and low cost of VietJet will be an important competitive advantage Ancillary revenue is an important factor in the success of most low-cost airlines (LCC) This is also the factor that helped VietJet quickly become profitable This source now contributes more than 23% of VietJet's revenue in the first months of 2017 A small number of low-cost public airlines have impressive income thanks to logistics services accounting for more than 30% of total revenue, but 23% are children Very admirable numbers for a fledgling company, especially in Asia In the first months of 2017, Vietjet averaged 13.6 USD/pax for logistics services, up 20% over the same period last year 14 Image 1.4 Net revenue Another strength is that the company has built a strong and well-recognized brand name in Vietnam thanks to its good communication and distribution network through local travel agencies, expanding its products or trading platform e-commerce, social network with partners like Facebook or Google This is an important factor because most Vietnamese people still buy tickets through agents instead of booking directly on the Internet Vietjet is one of the strongest brands in Vietnam A 2015 study showed that 96% of Vietnamese people recognize the name Vietjet, and 88% of its customers feel satisfied All thanks to good products and clever marketing programs (like the bikini aerial campaign) Currently, VietJet is building a loyalty program, which will further enhance their position in the domestic market In addition, Vietjet also has 1,300 ticket agents nationwide Since 2014, Vietjet has stopped paying commissions to agents, paying only a bonus of 0.3% of total costs That is one of the reasons why even though Vietjet sells very cheap air tickets, it still makes a lot of profit 2.6 Weaknesses Since the early days, Vietjet has been in discussions with potential partners to form alliances with other low-cost airlines across Asia However, VietJet failed in most of the joint venture negotiations and only succeeded in Thailand Currently, the company has not found joint venture partners in other major Asian markets Vietjet's desire is to 15 cooperate with the leading low-cost airlines in Southeast Asia such as AirAsia and Lion, in order to 15 increase its presence and use up nearly 200 aircraft that they have ordered Some potential deals cannot come to an end and currently the only joint venture (in Thailand) is facing many difficulties Thai VietJet was born in 2013 but it did not come into operation until September 2016 because of procedural problems In addition, the initial partner, Thai airline Kan Air, has sold a majority of shares to a group of Thai investors since early 2015 In the first quarter of 2016, VietJet also sold shares here to investor Vietnam, reducing the ownership rate to only 9%, putting the company in a passive position Vietjet is one of the strongest brands in Vietnam A 2015 study showed that 96% of Vietnamese people recognize the name Vietjet, and 88% of its customers feel satisfied All thanks to good products and clever marketing programs (like the bikini aerial campaign) Currently, Vietjet is building a loyalty program, which will further enhance their position in the domestic market In addition, Vietjet also has 1,300 ticket agents nationwide Since 2014, Vietjet has stopped paying commissions to agents, paying only a bonus of 0.3% of total costs That is one of the reasons why even though Vietjet sells very cheap air tickets, it still makes a lot of profit The final weakness: most of VietJet's profit comes from sale and leaseback activities Since the end of 2014, the airline has signed an agreement with Airbus and has received 28 aircraft ordered from Airbus, sold and leased all of these aircraft This is an operation that LCCs often use to make quick profits However, in the long term it will turn into a weakness as the airline will end up paying higher than average rental costs as the life of the aircraft increases VietJet is also enjoying the advantage of low maintenance costs because of its new fleet of aircraft In the future, the cost of aircraft maintenance and lease may increase, and the airline faces fiercer competition after expanding its operations in the international market - a move necessary to be able to use the aircraft Out of order for 200 planes 2.7 Opportunities and Threats Opportunities VietNam is emerging as a popular tourist destination, the number of visitors surpassed 10 million in 2016, an increase of 26% over the previous year In the first months of 16 2017, the number continued to increase by 30% compared to the same period last year This trend is expected to continue This is an opportunity for VietJet Currently, the airline has regular flights to Korea, Taiwan, Malaysia, Thailand and Cambodia China the largest and fastest growing source of tourists - currently only has a charter route (a charter flight exclusively for visitors of a travel agency) but will soon have an official route The airline is starting to pursue commercial rights (which is the right to take passengers, cargo, mail from a second country to a third country through the territory of the operator's country, for example transporting passengers from Cambodia) to Japan via Tan Son Nhat airport) If successful, VietJet could open a new growth phase when the domestic market is saturated Vietnam's geographical location is very convenient for transporting passengers from Southeast Asia to Northeast Asia VietJet is also looking for forms of cooperation such as issuing inter-airline tickets or code-sharing with other airlines Threats There are many opportunities but also many challenges The first is the increasingly fierce competition environment Leading Southeast Asian airlines such as AirAsia and Lion are both planning to set up joint ventures in Vietnam VietStar – another domestic carrier – has recently been licensed and plans to start providing services from the end of this year or early next year The Vietnamese market will not be able to support new startup – let alone If Vietnam AirAsia enters the market and Lion Group can also put Batik Vietnam into operation, the market could have a "bloodbath" After growing 20% - 30% in the period 2012-2016, Vietnam's aviation market will decelerate Slowing growth in the domestic market will put pressure on VietJet to rely more on the international market, which is not easy Besides, the growth of domestic tourism demand is currently 4-5 times higher than GDP growth, which is an unsustainable rate Like other airlines, the overload at Tan Son Nhat airport will greatly affect the growth ability of VietJet With nearly 200 aircraft on order with Airbus, VietJet may face an oversupply of aircraft if its infrastructure continues to be overloaded and the growth of the domestic market slows down significantly The international market has more potential and was also the focus of VietJet's development in 2017, but this is a much more fierce market than the domestic market The Vietnam market can hardly support more than 100 aircraft 17 The decision to order 100 737 MAX aircraft from Boeing in 2016 surprised many people because there are types of narrow-body aircraft in the fleet which is unusual for an LCC of the size of VietJet 17 CONCLUDE Vietjet Air has many segments with low cost, enough to attract customers and compete with competitors Launching at the right time, not afraid to copy competitors' models, using strategic joint ventures are the distinctive and outstanding features that make Vietjet Air's strength Compared to the Philippines and Indonesia, because it is supported by feeder traffic from other AirAsia branches in the region, Vietjet Air's ability to succeed and speed is much faster Is a good choice, should invest 18 REFERENCES https://laodong.vn/kinh-te/vietjet-hoat-dong-co-loi-nhuan-trong-quy-iv-va-ca-nam- 2020-875992.ldo https://thitruongbiz.vn/vietjet-air-la-gi-lich-su-phat-trien-cua-hang-hang-khong-gia- re-viet-nam-1192.html https://amis.misa.vn/28836/chien-luoc-marketing-cua-vietjet-air/ https://dangcongsan.vn/kinh-te/vietjet-ky-thoa-thuan-ve-cong-nghe-hang-khong- voi-cac-tap-doan-thuy-sy-598277.html https://ir.vietjetair.com/File_Upload/co-dong/ban-tin-nha-dau-tu/2022/ban%20tin %20IR%20thang%202-2022.pdf https://ir.vietjetair.com/File_Upload/co-dong/ban-tin-nha-dau-tu/2021/B%E1%BA %A3n%20tin%20nh%C3%A0%20%C4%91%E1%BA%A7u%20t%C6%B0%20th %C3%A1ng%2011-12-2021.pdf https://gtvseo.com/marketing/mo-hinh-kinh-doanh-vietjet-air/#yeu-to-1-phan-khuckhach-hang http://123docz.net/document/8113406-chien-luoc-xay-dung-thuong-hieu-cuavietjet-air.htm 19