• Jetstar Pacific’s transformation to an all-A320 fleet is now complete
• The modernised fleet will deliver significant cost improvements for the airline
• The investment reflects both partners commitment to the growing Vietnamese market

Jetstar Pacific has successfully completed its transformation to an all-A320 fleet.

Vietnam’s first low fares airline has added three A320s and progressively retired five B737-400s from the fleet over the past six months.

The airline now operates five A320s and is expected to grow its fleet to 15 aircraft within the next few years.

The fleet renewal program, which has more than halved the average age of Jetstar Pacific fleet, will deliver significant cost improvements in fuel efficiency and maintenance as well as providing a more comfortable in-flight experience for passengers.

Jetstar Group CEO Jayne Hrdlicka said the timely completion of the fleet rejuvenation was great news for passengers flying in Vietnam.

“As our network continues to expand throughout Asia, we remain focussed on offering our customers an enjoyable, comfortable and hassle-free experience onboard our flights,” Ms Hrdlicka said.

“Jetstar Pacific is a key member of the Group and this investment in modernising the fleet reflects our commitment to this fast growing market.”

Vietnam is set to become the world’s second fastest growing aviation market for domestic passengers by 2014, according to the International Air Transport Association (IATA).

In February 2012, a new partnership structure for the airline was announced which saw the Qantas Group’s ownership in the joint-venture rise from 27 to 30 per cent, with Vietnam Airlines taking around a 70 per cent share from previous partner, State Capital Investment Corporation.

The Qantas Group-Vietnam Airlines partnership invested about AUD$25 million into Jetstar Pacific, including $7.5 million from Qantas.

Both shareholders support plans to grow Jetstar Pacific’s fleet to 15 A320s within the next few years to meet increasing demand for low fares in Vietnam.

Jetstar Pacific carried almost 1.9 million passengers and operated more than 11,000 flights in 2012.