Vietjet Air outnumbered VND1.5 trillion Vietnam Airlines in market capitalisation — Photo cafef.vn

Budget airline Vietjet’s market capitalisation reached VND41.2 trillion (US$1.8 billion) on Monday, surpassing Vietnam Airlines’ market cap and making it the 10th largest shareholder on the HCM Stock Exchange (HoSE) only one week after its debut on February 28.

Price of the airline’s shares increased by 4 per cent to VND137,400 ($6.03) per share, up 53 per cent compared with its debut price.

Meanwhile on the Unlisted Public Company Market (UPCoM), Vietnam Airlines’ shares sank for a second day, down 5 per cent to VND32,400 ($1.42) per share, valuing the national airline at VND39.8 trillion ($1.7 billion) -- the third highest valued company on the UPCoM.

Vietjet is the first airline in Viet Nam to be listed on the official stock exchange.

Its CEO, Nguyen Phuong Thao, has also become the third richest person on the stock market with a fortune of nearly VND13.5 trillion. — VNS