IPP Air Cargo, in an unanticipated move, has withdrawn its application for a cargo flight permit, citing “worsening economic condition”, “looming global recession” and “volatile fuel prices”, all of which likely will result in numerous challenges for global freighters.
The Ministry of Transport has sought the Prime Minister’s approval to issue a licence for the first cargo airline in Viet Nam, IPP Air Cargo, as freight demand increases rapidly.
The Civil Aviation Authority of Vietnam (CAAV) recently reported to the Ministry of Transport on a project to establish the first cargo airline in Viet Nam.
