HA NOI — The Ministry of Transport has submitted to the Government two plans to bring foreign investment into the domestic aviation market. In the first plan, any airline with overseas investors had to show that its foreign partner held no more than 49 per cent of the charter capital. A Vietnamese individual or business was required to hold the largest share and, in fact, a single foreign entity could not hold more than a 30 per cent stake.
HA NOI — The Prime Minister has given the okay to national flag carrier Vietnam Airlines' takeover of budget carrier Jetstar Pacific. Jetstar, which is owned by State Capital Investment Corporation (SCIC), has been in serious financial difficulties for years. The SCIC has a 70-per- cent State-owned stake in the airline. The remaining shares are held by Australian flag carrier Qantas and Saigontourist.
HA NOI — Low-cost airline Jetstar Pacific will merge with national flag carrier Vietnam Airlines in the near future, according to deputy head of the Civil Aviation Administration of Viet Nam (CAAV) Dinh Viet Thang. The move is considered the most feasible plan to save the carrier from bankruptcy. The Ministry of Finance and the Ministry of Transport have agreed to the move, which is awaiting approval from the Prime Minister, said Thang during a briefing at the Ministry of Transport late last week.
Emirates Airlines President Tim Clark said these flights aim at both tourists and businesspeople from the Middle East, Africa and EU. The opening of these air routes will provide a gateway for tourists to discover the wonders of Vietnam, including the beaches of Nha Trang and the floating markets of the Mekong Delta, as well as its UNESCO World Heritage sites such as Hoi An ancient town and Halong Bay, he said.
VietJetAir, a private low-cost airline that began operation late last year, recently announced that it would open two new routes and increase flights between its current single route between Ha Noi and HCM City. Viet Nam News talked with Deputy General Director Pritam Singh about the market in Viet Nam and the company's business development plans.