[11][12] On 8 March 2024, Pacific Airlines temporarily suspended all of its services and flights and decommissioned its whole fleet, citing financial difficulties and pressure from lessors.

[20][21] In 2000, Pacific entered into an agreement with Greek charter airline Galaxy Airways whereby the Vietnamese carrier would operate flights to Taipei on its behalf.

[23] From 2001 to 2004, a succession of regional and global events, namely the September 11 attacks, the 2003 invasion of Iraq, the SARS outbreak and a rise in oil prices, as well as misguided management decisions, contributed to a cumulative loss of more than US$13 million at the airline.

[25] The Ministry in January 2005 announced plans to sell all of its shares to increase the available capital by 20 times[16][26] One prospective investor was Temasek Holdings, who was looking to inject US$50 million to revive the business, which might have entailed launching passenger flights to Japan, South Korea, Malaysia, Singapore and Thailand.

[28] Three months later, Qantas agreed to a minority stake in Pacific as part of its plan to expand its low-cost operations through Jetstar in Southeast Asia.

[citation needed] Due to high fuel costs, Nha Trang service was suspended, and the airline lost $22 million in 2008.

[33] Passenger service launches to Bangkok and Siem Reap were deferred, and SCIC stated the airline would need US$35 million to operate in 2009.

[35][36][37] In January 2010, clarifications about Nam surfaced when Vietnamese authorities reportedly detained the former CEO and prevented COO Daniela Masilli and CFO Tristan Freeman from leaving the country.

In addition to the fuel price fluctuations, compounded by the government-sanctioned fare cap, JPA had to address lease and maintenance fees for its aircraft.

[43] During the year, reports indicated that VAC would re-assume control of the carrier; according to Saigon Tiep Thi, the SCIC would transfer 70% of its shares to Vietnam Airlines.

[44][45] On 16 January 2012, the Vietnamese government confirmed the allegations by Saigon Tiep Thi by decreeing a transfer of SCIC shares to Vietnam Airlines, which took place in February.

[citation needed] In June 2020, Vietnam Airlines announced that it would take over all Qantas's shares and increase its ownership of Jetstar Pacific to 98%.