regulatory approvals". By February 2011, VietJet was said to be "completing final stages" prior to launch before its operation license expired in June. The airline's maiden flight was eventually launched on 25 December 2011, flying from Ho Chi Minh City to Hanoi. Operations The Vietnam aviation authority fined VietJet Air US$960 in 2012 for organizing five women of candidates in a local beauty contest to perform a Hawaiian themed-dance without first gaining permission to celebrate its maiden flight to the tourist hub of Nha Trang. On 9 February 2013, the airline launched its first international flight between Ho Chi Minh City and Bangkok, becoming the first Vietnamese private airline to enter the international market. In February 2014, at the opening of that year's Singapore Air Show, the airline firmed up orders with Airbus for 60 A320 aircraft at a list price of $6.4 billion. Previously, the airline had signed a Memorandum of Understanding with Airbus for 92 planes in the A320 family. In June 2015, at the Paris Air Show, VietJet ordered six additional Airbus A321 single-aisle jets worth $682 million at list prices from Airbus to meet demand on some of its busiest routes; VietJet purchased a further 30 later that year at the Dubai Airshow, which included 21 A321neos along with 9 A321ceos. In May 2016 during a state visit of US President Barack Obama, an order for 200 Boeing 737 MAX aeroplanes was signed, with deliveries to start in 2019. In September 2016, CEO Nguyen Thi Phuong Thao announced an order for 20 A321 single-aisle aircraft from Airbus. The signing took place during a state visit of French President Francois Hollande. During the 2018 Farnborough Airshow, Thai VietJet, VietJet's Thai subsidiary, ordered 100 Boeing 737 MAXs (80 MAX 10s and 20 MAX 8s) and 50 A321neos. Public offering VietJet completed its initial public offering (IPO) on the Ho Chi Minh City Stock Exchange (HOSE) on 28 February 2017 at an initial price of (US$ ) per share. The share price immediately rose by 20%, the maximum allowed for newly listed companies. The airline raised $167 million from the listing, making it the biggest IPO on the Vietnamese stock market to date and accounting for 1.5% of HOSE's capitalization at the time. Financials According to pre-audited financial statements for 2019, VietJet's air transport revenue reached VND41,097 billion. Profit before tax of air transport rose to VND3,936 billion, an