Thien Minh to set up new airline

Friday, Aug 23, 2019 15:32

Besides Kite Air, Thien Minh Group is operating the Hai Au Aviation Joint Stock Company which is operating an aviation business with four small Cessna seaplanes. — Photo

Thien Minh Aviation Joint Stock Company has sent a dossier to Quang Nam Province’s Department of Planning and Investment to get approval to establish a new airline.

The new airline, KiteAir, has chartered capital of VND1 trillion (US$43.92 million).

Thien Minh plans to set up an airline at Chu Lai Airport, Nui Thanh District, Quang Nam Province for a period of 50 years from the effective date of the investment policy decision.

Regarding the scale of the project, Thien Minh proposed to invest a total of 30 aircraft by 2024, including 15 ATR72 aircrafts and 15 A320/A321 aircrafts (or aircraft with equivalent capacity).

Specifically, in the first year of operation, Thien Minh will invest six ATR72 planes. The number of aircraft will double in the second year.

In the third year, Thien Minh plans to operate 15 ATR72 aircrafts and five A320/A321 aircrafts.

After that, in the 4th and 5th years, Thien Minh will add five A320/A321 or equivalent aircrafts each year.

Previously, at the end of June, Tran Trong Kien, chairman of Thien Minh Group, established Thien Minh Aviation Joint Stock Company.

According to the business registration certificate, Tran Trong Kien is the chairman, general director and also the largest shareholder in Thien Minh Aviation JSC.

Three main shareholders include Thien Minh Tourism JSC with 30 per cent of shares, Tran Trong Kien with 60 per cent and Tran Hang Thu with 10 per cent.

As of August 22, three investors have sent proposals to set up airlines to local Planning and Investment Departments.

In addition to Thien Minh with KiteAir, Ha Noi’s Department of Planning and Investment is appraising the project of establishing Vinpearl Air and Thua Thien Hue’s Department of Planning and Investment is appraising the Viettravel airline project. — VNS

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