Further to the announcement dated 31 March 2017 in relation to the Company’s proposed joint venture in Vietnam, the Company wishes to announce that on 6 December 2018 it has signed a Memorandum of Cooperation reaffirming its intention to set up a low-cost carrier in Vietnam with Thien Minh Travel Joint Stock Company ("TMG") and Hai Au Aviation Joint Stock Company ("HAA") on the terms agreed between the parties.

The memorandum was signed by Tan Sri Anthony Francis Fernandes, the Group Chief Executive Officer of AAGB, and Tran Trong Kien, the Chief Executive Officer of TMG and General Director of HAA at the InterContinental Hanoi Landmark72.

This announcement is dated 6 December 2018.