Viet Nam to have sixth airline

Friday, Jun 28, 2019 15:54

Tran Trong Kien, chairman and CEO of Thien Minh Group would be the largest shareholder of Thien Minh Aviation JSC with 60 per cent of shares. — Photo

Thien Minh Aviation Joint Stock Company was granted business registration to establish an airline with charter capital of VND1 trillion (US$43 million), becoming the sixth airline in the country.

According to the business registration, the company which is a subsidiary of Thien Minh Group (TMG), one of Viet Nam's leading travel and hospitality companies, would have headquarters in Hoi An, central province of Quang Nam. Three main shareholders include Thien Minh Tourism JSC with 30 per cent of shares, Tran Trong Kien – the group’s chairman with 60 per cent and Tran Hang 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.

Kien will be the chairman and general director of the company. He is now also general director of the Hai Au 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 Thien Minh Group to establish a low-cost airline in Viet Nam after one year of negotiation. Kien at that time said that he would continue to pursue the establishment of an airline in another way.

Currently, Viet 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 Viet Nam.

However, Vietstar Airlines is waiting for licence though it was established in 2016 with charter capital of VND300 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 Thua Thien-Hue Department of Transport. The headquarters of Viettravel’s airline is forecast to be in the province. The Vietravel Airlines would have charter capital of VND1 trillion. — VNS

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