Japan’s and Vietnam’s Flagship Airlines Want to Act Like One

Ten years after first teaming up, ANA and Vietnam Airlines are moving toward something much closer. On November 9 in Tokyo, the two carriers exchanged a framework agreement to pursue a joint venture on passenger services between Japan and Vietnam. The signing, which marked the tenth anniversary of their partnership, took place in the presence of To Lam, Vietnam’s top party and state leader, underlining how much political weight sits behind air links between the two countries. Japan is one of Vietnam’s most important tourism and business markets, and both governments have been pushing for more connectivity.

A joint venture goes well beyond a codeshare. If approved, the airlines plan to share revenue on the routes and coordinate schedules, fares, seat inventory, sales, marketing and passenger services, effectively selling the Japan-Vietnam market as one network. That builds on what already exists: a codeshare, reciprocal frequent flyer benefits and shared airport services. ANA Holdings has also been a strategic shareholder in Vietnam Airlines since 2016. Nothing changes yet, though; the venture needs approval from authorities in both countries, including antitrust immunity.

The market is growing fast. As of October, Vietnam Airlines flies 11 routes between the two countries with 72 weekly flights. In the first nine months of 2026, its Japan passenger numbers rose 18% year on year and Japan passenger revenue climbed 26%. Vietnam Airlines chief executive Le Hong Ha said the airline is committed to working closely with ANA to advance the plan, while ANA chief executive Juichi Hirasawa pointed to the mutual trust the partners have built over the past decade.

For travellers, the promised benefits are the usual joint-venture ones: easier booking across both airlines, better-timed connections, and richer frequent flyer earning and perks between Tokyo, Osaka and other Japanese cities and Hanoi, Ho Chi Minh City and Da Nang. No launch date, joint fares or new routes have been announced. Joint ventures can also reduce head-to-head competition between partners, so it is worth watching how fares on the main trunk routes move once regulators have their say.

Sources: Airways Magazine, Vietnam Investment Review