Vietnam’s sole privately-owned carrier VietJet has recently announced having the necessary financial backing to finance the South East Asian country’s historically largest order from Boeing and Airbus.

In May of 2016, VietJet had announced ordering 100 Boeing 737 MAX 200 aircraft (valued at $11.3 billion) and placed another order for 20 Airbus A321 planes (valued at $2.4 billion) later in the year.

The airline is now 95% owned by Vietnamese Nguyen Thi Phuong Thao who established the LCC in 2007. The airline had its launch in December 2011 and became the only private airline in Vietnam.

Vietjet now operates a strong fleet of 40 Airbus A320 family aircraft. It serves 23 domestic and 10 international destinations.  

According to data from CAPA Centre for Aviation, the carrier currently hold 40% of Vietnam’s domestic market. Analysts forecast that VietJet is likely to become the country’s number one domestic carrier, taking that title from state-owned Vietnam Airlines.