PM asked to lift minimum capital requirement for airlinesBy Lan Nhi Passengers are seen getting on a plane parking at Lien Khuong Airport in the highland province of Lam Dong – PHOTO: ANH QUAN HANOI - The tourism consulting group of the Government’s Private Economic Development Research Board has written to the prime minister, proposing a number of issues concerning air transport, including the removal of the minimum capital requirement for an airline. The Ministry of Transport is seeking comments on a draft revision of Decree 92/2016/ND-CP on conditional business lines in civil aviation. With regard to the prevailing regulation of minimum capital, airlines operating up to 10 airplanes and offering international services must have at least VND700 billion in capital, whereas airlines providing domestic services must have VND300 billion. Under the draft revision, airlines, regardless of whether they offer international or domestic services, must have VND700 billion … [Read more...] about PM asked to lift minimum capital requirement for airlines
Le Anh According to a business plan submitted to the ministry by Vietstar Airlines, the enterprise expects to operate three aircraft which are either Boeing 737s or Airbus 320s. The airline showed the ministry a contract to lease three planes from a partner. In the first five years, Vietstar Airlines plans to conduct domestic flights on the north-south route and services to the northeast and southeast Asian regions. The airline is a business unit under the Air Defense and Air Force of the Ministry of Defense. Its chartered capital by the end of last year had been VND800 billion (US$35.87 million). Over five years ago, the Civil Aviation Authority of Vietnam licensed Vietstar Airlines to operate flights for air taxi, tourism, terrain survey and photography and rescue services among others. The enterprise was allowed to provide aircraft maintenance service, supply jet fuel, and train staff for the aviation industry. In May 2012, the firm announced the opening of a … [Read more...] about New airline in the offing
VietNamNet Bridge - General Director of Indochina Airlines Ha Hung Dung, who is also well known in Vietnam as a musician, may have to appear in court, since booking agents are considering suing leaders of Indochina Airlines, because the air carrier is still owing nearly one billion dong to them. Disappears on aviation market, appears on showbiz The document sent by the Civil Aviation Authority of Vietnam (CAAV) to Indochina Airlines has been returned to the sender, because there was no receiver. The express service provider said the address that Indochina Airlines registered for its head office does not exist any more, and that no one received the documents sent to the address. As such, Ha Dung, who registered as the General Director of Indochina Airlines, has appeared on the aviation market for the last two years. Indochina Airlines nowadays is the air carrier with no aircraft, no office, no staff and no commercial flight. An official of CAAV said on October 12 that he himself … [Read more...] about Indochina Airlines’ General Director will have to appear in court?
Mekong Aviation is completing hectic preparations for its first commercial flight, slated for October 2010, while Jetstar Pacific is trying to expand its market share. According to Nguoi Lao Dong newspaper, Mekong Aviation, a private airline, has decided that it will take the first commercial flight on October 10, 2010. The information is good news for Vietnam's aviation market. Believing that it cannot confront airlines that have experience and a certain market share, Mekong Aviation has decided to exploit the 'niche market': the airline will fly domestic air routes with Bombardier CRJ 900 jets. Its air routes will be Hanoi-Phu Quoc island, HCM City-Phu Quoc island with four flights per week and also Hanoi-HCM City. At this moment, other airlines do not want to fly Hanoi-Phu Quoc, because Phu Quoc only has a small airport capable of receiving aircraft with less than 100 seats. Only Vietnam Airlines can meet the requirement because it has ATR and Forker aircraft. As such, right … [Read more...] about Aviation market will improve with more airlines
A lot of budget airlines have been eyeing the Vietnamese market, but they have been warned that it is not easy to penetrate the market. In mid October, AirAsia announced the decision to cancel the plan to purchase 30 percent of stakes of Vietnamese VietJet Air which now has the chartered capital of 600 billion dong, because the two parties could not reach an agreement on the use of AirAsia brand in the airline's commercial activities. Despite the unsuccessful affair, which means that VietJet Air will not get the support from AirAsia in technical issues, labor force training and technology transfer, the Vietnamese air carrier still has affirmed that it is nearly completing necessary procedures and gets well prepared for the first commercial flights to be taken by the end of 2011. Under the plan released by VietJet Air, in the first phase of operation, it will fly with Airbus A320 and develop the air routes on the north-south backbone: Hanoi - Da Nang, Hanoi - HCM City, Da Nang - … [Read more...] about Airlines go on thorny path to penetrate budget aviation service market