Việt Nam News

Việt Nam to have sixth airline

June 28, 2019 - 15:53

Thiên Minh Aviation Joint Stock Company was granted business registration to establish an airline with charter capital of VNĐ1 trillion (US$43 million), becoming the sixth airline in the country.

Trần Trọng Kiên, chairman and CEO of Thiên Minh Group would be the largest shareholder of Thiên Minh Aviation JSC with 60 per cent of shares. — Photo vietnamfinance.vn

HÀ NỘI — Thiên Minh Aviation Joint Stock Company was granted business registration to establish an airline with charter capital of VNĐ1 trillion (US$43 million), becoming the sixth airline in the country.

According to the business registration, the company which is a subsidiary of Thiên Minh Group (TMG), one of Việt Nam's leading travel and hospitality companies, would have headquarters in Hội An, central province of Quảng Nam. Three main shareholders include Thiên Minh Tourism JSC with 30 per cent of shares, Trần Trọng Kiên – the group’s chairman with 60 per cent and Trần Hằng Thu with 10 per cent.

The business registration allows the company to operate in seven sectors including aviation passenger and goods transport, and aircraft leasing.

Kiên will be the chairman and general director of the company. He is now also general director of the Hải Âu Aviation Joint Stock Company, established in 2011. The firm provides seaplane tourism activities and air taxi services.

Earlier, in April, AirAsia announced an end to co-operation with Thiên Minh Group to establish a low-cost airline in Việt Nam after one year of negotiation. Kiên at that time said that he would continue to pursue the establishment of an airline in another way.

Currently, Việt Nam’s aviation market has five airlines including Vietnam Airlines, Vietjet Air, Jetstar, VASCO and Bamboo Airways. Vietstar Airlines and Vietravel Airlines also expected to launch an airline in Việt Nam.

However, Vietstar Airlines is waiting for licence though it was established in 2016 with charter capital of VNĐ300 billion.

Another newcomer - tourism company Vietravel Group - has recently also made the first moves to establish its own airline, sending documents on establishing Viettravel Airline to the central province of Thừa Thiên-Huế Department of Transport. The headquarters of Viettravel’s airline is forecast to be in the province. The Vietravel Airlines would have charter capital of VNĐ1 trillion. — VNS

Tags aviation airline route flight

Việt Nam needs development of green products exported to UK

Economy

UK’s carbon tax to affect VN exports

Economy

Việt Nam expects to officially export passion fruit to the US next year

Economy

VN faced with increasing trade defence investigations on rising protectionism

Economy

Experts point out economic growth drivers, challenges for next year

Economy

Thái Nguyên supports businesses to take advantage of UKVFTA to expand exports to UK

More on this story

Economy

VietFund Management divests from ACB

The VietFund Management (VFM) will sell all its shares at the Asia Commercial Bank (ACB).

Economy

Việt Nam fosters a start-up ecosystem in the region: executives

Việt Nam has become an ideal eco-system for both domestic and foreign start-ups, and the effects are showing, with start-ups mushrooming all over the place. Việt Nam News’s Thu Ngân spoke to fund managers and executives at successful start-ups and asked them about the phenomenon.

Economy

Vietnamese banks to seek capital in international markets

Vietnamese banks are planning to raise capital in international bond markets as they face growing pressure to hike capital to satisfy Basel II standards by early next year.

Economy

E-Commerce needs a new push to reach rural areas

Việt Nam has a lot of agricultural products and local specialities in high demand but most of them are still distributed through intermediary sellers and traditional markets.

Economy

PM slashes import/export tariffs under CPTPP

Tariffs on imported products including fruit and frozen foods from six member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be reduced to zero backdated to January 14 this year to 2022.

Economy

GDP is set at 6.8 per cent in 2019: MPI

The Ministry of Planning and Investment (MPI) will continue working hard to ensure gross domestic product (GDP) growth reaches 6.8 per cent at the end of the year.

Economy

Steel industry to face challenges in second half of 2019

In the second half of this year, increasing competition in product quality, prices and market share are predicted to force steel companies to work harder to maintain their foothold in the market.

Economy

Work begins on two wind power plants in Quảng Trị

Construction on two wind power plants with a combined value of more than VNĐ2.31 trillion (US$104 million) began in Hướng Hóa District, Quảng Trị Province on Thursday.

Economy

Vietnamese goods on show in South Korea

A number of Vietnamese enterprises are showcasing goods including handicrafts, dairy products, food and beverages at the 17th Import Goods Fair (IGF), which opened in Seoul on Thursday.