Active from 1951 to 1975, Air Viet Nam (Air VN) (Vietnamese: Hãng Hàng không Việt Nam) was South Vietnam's first commercial air carrier, headquartered in District 1, Saigon. Established under Emperor Bảo Đại, the airline flew over one million passengers, including during the Vietnam War, before its collapse due to Fall of Saigon.

Air Viet Nam's initial fleet consisted of five Cessna 170s, with the airline flying mainly between small towns throughout Vietnam. By 1975, Air Viet Nam started using Douglas DC-3s and Boeing 727s on both regional and international routes.

As passenger traffic increased with the start of the Vietnam War, Air Viet Nam added aircraft, initially Viscounts, DC-3s, and DC-4s. It eventually obtained more modern aircraft, including Boeing 727s, some of which were obtained from Air France and Pan Am. At least one C-46 was leased from China Airlines, and was flown by a Taiwanese crew. That aircraft had a color scheme different from the rest of the Air Viet Nam fleet.

In an unusual joint venture, Air Viet Nam was joined by Continental Air Services (CASI), a subsidiary airline of Continental Airlines set up to provide operations and airlift support in Southeast Asia, in the mid-1960s. Under this agreement, CASI would share passengers and cargo routes with Air Viet Nam on certain domestic and international routes. In addition, CASI and Air Viet Nam would share hangars and flight lines. CASI also picked up a portion of aircraft maintenance. Heavy engine overhaul was done in Hong Kong, by China Airlines, and some in Taiwan, by Air Asia (a subsidiary of Air America). CASI paid a portion of its revenues to Air Viet Nam for the routes and privileges. Many CASI aircraft operating from Saigon carried the dragon/flag roundel of Air Viet Nam.

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