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Vietnam Airlines subsidiary to become joint-stock firm
The government has given the green light to Vietnam Air Services Company, a subsidiary of Vietnam Airlines, to restructure into the VietAir Joint Stock Airlines Company.
The restructure is part of Vietnam Airlines’ plan to equitize, with foreign investors allowed to hold 10 to 20 percent stakes.
Vietnam Airlines’ Chairman, Nguyen Sy Hung, told Tuoi Tre Thursday that VietAir would initially operate short-haul domestic flights using Airbus A320, ATR72, and Fokker aircraft before expanding to fly on international routes.
He revealed no other details of the restructure or the parent’s equitization plan.
VASCO currently operates flights from Ho Chi Minh City to Con Dao Island, Ca Mau and Quang Nam Provinces, and Tuy Hoa city.
The government has so far licensed six carriers, the others being Jetstar Pacific, Indochina Airlines, VietJet Aviation Joint Stock Company (VietJet Air), and Mekong Air.
But only three are operational - Vietnam Airlines, VASCO, and budget carrier Jetstar Pacific.
Indochina Airlines, the first private carrier to begin operations, lost its traffic right in January after accumulating debts of VND30 billion (US$1.68 million) and suspending its service in late 2009.
Mekong Air, another private airline, is planning to launch domestic flights later this year.
VietJet Air, currently known as VietJet AirAsia after Malaysia-based AirAsia bought a 30 percent stake in it, is set to start operations in May.
Vietnews
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