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The firm was established on Nov. 6, 2025, and operates in 51 business sectors, with its main focus being air passenger transportation, according to the company’s registration documents.

Its founding shareholders include Crystal Bay Tourism Group, which contributed VND282 billion or 94% of the company’s charter capital, as well as the airline’s chairman Nguyen Duc Chi and general director Bui Tuong Chi, who accounted for 5% and 1%, respectively.

Crystal Bay Tourism Group primarily operates in the fields of tourism, travel, resorts and tourism real estate investment. Before establishing the airline, the group had not directly owned or operated a fleet of aircraft under the Crystal Bay brand.

However, since around 2022, the company has been organizing international charter flights bringing tourists to Vietnam, especially to destinations like Cam Ranh Bay and Phu Quoc Island.

These flights are often regularly operated by other carriers like Vietjet Air and Bamboo Airways, connecting Vietnam with many markets, including Kazakhstan, Taiwan, Thailand, Mongolia and Uzbekistan.

By 2023, Crystal Bay had also established Crystal Bay Tour Co Ltd to develop software for selling airline tickets and tours while also implementing marketing and communication activities, which are considered vital for a travel business.

Crystal Bay’s establishment of its own airline company is widely seen as a reasonable next step, aimed at completing its ecosystem and boosting its tourism business.