Russia-Vietnam: How ACMI Leasing Could Reshape Travel Between the Two Countries

Moscow and Hanoi are negotiating a landmark deal that could see Russia lease aircraft from Vietnam Airlines to restore air links between the two countries. This bold maneuver, designed to bypass Western sanctions, also carries risks for travelers. Between geopolitical stakes and opportunities for the aviation market, here’s what this potential agreement could mean for your next flights between Europe and Asia.

The Russian Ministry of Transport has officially requested Vietnam to explore an ACMI (Aircraft, Crew, Maintenance, and Insurance) lease agreement. This would allow Vietnamese aircraft to be operated by Russian carriers without transferring ownership. While the proposal is still under review, it could reshape air travel between the two nations.

For travelers, this announcement opens new possibilities. With additional aircraft in service, flight frequencies could increase, particularly on routes connecting major Russian cities to Vietnamese beach destinations. Nha Trang, already overwhelmed by Russian tourists, may see even more traffic. Airports like Cam Ranh, which handles 83% of seats between the two countries, could become even busier. A boon for airlines and passengers seeking competitive fares.

However, significant challenges lie beneath the surface. Vietnam Airlines’ fleet, composed of Airbus and Boeing aircraft, could expose it to secondary U.S. sanctions. A similar attempt with Ethiopia previously failed due to these risks. Vietnamese authorities must carefully weigh the consequences before approving the deal.

Meanwhile, traffic rights between the two countries have been expanded to 105 weekly flights—a record in years. Four Russian carriers already serve 11 routes, while two Vietnamese airlines offer 31 flights on three lines. Cities like Kazan, Barnaul, or Blagoveshchensk could soon appear on travel itineraries, strengthening connections between Eastern Europe and Southeast Asia. A step forward in restoring regular links after years of restrictions.

The market remains dominated by leisure travel from Russia to Vietnam. Over 1.07 million passengers traveled between the two countries in 2026, with numbers expected to exceed two million by year-end. With a 50% increase in seats planned for summer 2026 compared to 2025, capacity is growing—but this expansion hinges on Vietnam’s response to Russia’s demand.

A Temporary Solution to Russian Sanctions

Since Russia’s 2022 invasion of Ukraine, its aviation sector has faced severe pressure. Western sanctions have cut off access to aircraft, spare parts, and technical services. Nearly one in five planes is now grounded, compared to a normal rate of 10%. For Russian carriers, ACMI leasing offers a lifeline—providing additional capacity without the need to purchase new aircraft, a costly and time-consuming process in the current climate.

Industry data confirms the urgency. Of the 673 aircraft operated by Russia’s 11 largest airlines, 130 are currently grounded. This unavailability severely limits their ability to meet passenger demand. By opting for ACMI solutions, Moscow hopes to mitigate the impact of restrictions while maintaining viable transport options.

Yet this initiative doesn’t solve all problems. Russian carriers must still convince Vietnamese authorities of the operation’s compliance with sanctions. Any violation of U.S. restrictions could trigger retaliation against Vietnam Airlines—a company critical to the bilateral air traffic market.

A Rapidly Expanding Market

The numbers speak for themselves: between winter 2025 and summer 2026, the number of seats scheduled between Russia and Vietnam surged by 50%. This remarkable growth reflects Russian tourists’ enthusiasm for Vietnamese destinations. Cam Ranh Airport, serving the Nha Trang region, accounts for 83% of bilateral capacity. Success stems from the concentration of flights on beach routes, highly popular with travelers.

The Moscow Sheremetyevo–Cam Ranh route dominates this market, with nearly 226,700 seats planned for summer 2026. Other Russian cities like Yekaterinburg, Novosibirsk, and Vladivostok are also active on this corridor. This geographic concentration highlights how beach tourism structures exchanges between the two countries.

For airlines, this growth represents a golden opportunity. With traffic rights expanded to 105 weekly flights, new routes are now feasible. Kazan, Barnaul, or Blagoveshchensk could soon appear on travel itineraries, strengthening connections between Eastern Europe and Southeast Asia—a step forward in restoring regular links after years of restrictions.

But this expansion won’t come without risks. Russian carriers must navigate significant logistical and regulatory hurdles. ACMI leasing requires tight coordination between technical and operational teams in both countries—a tall order in today’s tense geopolitical climate.

Risks for Vietnam Airlines

The main obstacle to this agreement remains the specter of U.S. sanctions. Vietnam Airlines operates a fleet of Airbus and Boeing aircraft. Any use of these planes by Russian carriers could be seen as a violation of Washington’s restrictions. A previous attempt with Ethiopia failed due to these risks.

Vietnamese authorities must carefully assess the consequences of such a deal. Approval could expose the airline to economic retaliation, while rejection would mean missing a chance to strengthen its position in the Asian market. A dilemma that underscores the complexity of geopolitical stakes in aviation.

Yet potential benefits abound. Vietnam Airlines could expand its network and boost revenue. But is the gamble worth it? The answer depends largely on the guarantees Moscow can provide regarding sanctions compliance.

What This Deal Could Mean for Your Travels

If finalized, this agreement could offer travelers new transport options between Europe and Asia. With more aircraft in service, flight frequencies could rise, especially on routes linking major Russian cities to Vietnamese beach destinations. Nha Trang, already overwhelmed by Russian tourists, may see even more traffic.

For passengers, this could mean greater ticket availability, potentially lower fares, and optimized connections. Airlines might also introduce new routes, such as Kazan–Hanoi or Blagoveshchensk–Nha Trang, to meet growing demand.

But caution is warranted: this operation remains contingent on successful negotiations between the two countries. If U.S. sanctions block the deal, travelers will have to rely on current options. Either way, this initiative underscores how geopolitical forces shape aviation—and how airlines must adapt to survive in an increasingly complex environment.

For now, discussions continue. Vietnamese authorities are reviewing the Russian proposal, while the airlines assess the risks. One thing is certain: if this deal materializes, it could redraw the map of travel between Europe and Asia, offering new opportunities for adventurous travelers.

The question remains whether the benefits will outweigh the risks. What’s clear is that aviation continues to navigate choppy waters—between sanctions, commercial opportunities, and logistical challenges. A reality that will inevitably influence your next travel choices.

In the meantime, travelers should stay informed about developments. Once again, air transport proves it’s more than just a means of travel—it’s a mirror of international relations.