As of January 2024, Cambodia Airways is the third largest airline in Cambodia by passenger traffic. The airline plans to bolster its fleet with some 20 Airbus aircraft by 2030, as it seeks to expand intercontinental routes to Australia and Europe through code-share partnerships. Cambodia Airways has operation centres in Phnom Penh, Siem Reap and Sihanoukville.
Cyborg Score Rationale
Cambodia Airways is establishing itself as Cambodia's leading full-service carrier with growing regional connectivity and ambitious fleet expansion plans. However, as a relatively young carrier (founded 2017) with limited financial transparency and significant expansion capital requirements ahead, execution risk remains material.
Top Insights
Only full-service airline operating in Cambodia with hub operations in Phnom Penh, Siem Reap, and Sihanoukville
Third-largest airline by passenger traffic in Cambodia as of January 2024
Plans to deploy ~20 Airbus A320-family aircraft by 2030 to support regional and intercontinental expansion
Targets 5-hour flight radius covering SE Asia, Northeast Asia, and expanding to Australia and Europe
Named Competitors
Vietnam Airlines — Regional full-service carrier serving Southeast Asia
Thai Airways — Regional full-service carrier with extensive network
AirAsia Cambodia — Low-cost regional operator
Sky Angkor Airlines — Regional carrier based in Cambodia
Recent Developments
(May 2025) Attendance at Routes World 2025 conference
(September 2025) Updated airline requirements on industry platform
(October 2025) Operations commenced at new Techo International Airport in Phnom Penh
Open the full interactive Cambodia Airways Co., Ltd. report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.