English Arabic Armenian Azerbaijani Chinese (Simplified) Chinese (Traditional) Czech Danish Dutch Estonian Filipino Finnish French Galician Georgian German Greek Hindi Hungarian Icelandic Indonesian Italian Japanese Korean Latvian Lithuanian Malay Maltese Norwegian Persian Polish Portuguese Russian Slovak Slovenian Spanish Swedish Thai Turkish Ukrainian Vietnamese

Air Asia to launch Vietnam airline

KUALA LUMPUR: April 06, 2017. Air Asia is to launch a low-cost carrier in Vietnam together with local shareholders Gumin Company, Tran Trong Kien, and the Hai Au Aviation Joint Stock Company (HAA).

Air Asia ShenzhenHAA, currently operating a general aviation business in Vietnam, will be used for the new joint venture that will require US$44 million in new capital with plans to begin services next year.

To comply with Vietnam aviation limits on foreign shareholders, AirAsia will hold 30 percent in the new venture while Gumin will hold 69.9 percent and Mr. Tran one share.

Noting the success of the operation "is highly dependent on its ability to operate to China as China is one of the main international markets for Vietnam," Air Asia said the venture is also subject to obtaining various Vietnam government licenses.

According to a filing with the Malaysia Stock Exchange, Air Asia pointed out that improving aviation connectivity in Vietnam would further support an uptick in GDP by providing a boost to tourism, export related industries, logistics, airport retailers and airline support industries.

The new airline plans to operate domestic and international services from Ho Chi Minh, Hanoi and Da Nang to key ASEAN destinations as well as Korea, China and Japan.

Vietnam is the fifth largest aviation market in South East Asia after Indonesia, Thailand, Malaysia and Singapore and was the fastest growing aviation market worldwide in 2015 and 2016.

The country's passenger traffic in 2016 was 52 million, a 28 percent year-on-year growth compared to a 10 percent average growth in other ASEAN countries.

More News

Written on 15/08/2017, 23:01
swiss-worldcargo-reorganizes-the-americasZURICH: August 15, 2017. The air cargo division of SWISS is to reduce its American organization from three to two regions effective October 01 covering...
Written on 10/08/2017, 14:58
zeaborn-now-owns-six-rickmers-line-shipsBREMEN/HAMBURG: August 07, 2017. The Zeaborn Group has acquired five 30,000dwt 'Superflex Heavy Lift' vessels from Rickmers Holding. The purchase price...
Written on 09/08/2017, 21:06
qatar-lifts-visa-requirement-for-latam-marketDOHA: August 09, 2017. Qatar Airways has introduced visa-free entry for citizens from 80 countries with those from the EU, Switzerland and Turkey allowed...
Written on 09/08/2017, 16:48
freightweek-news-update-week-32LONDON, Heathrow: August 12, 2017. To celebrate World Elephant Day and help stop illegal trade of wildlife, Heathrow has installed a pop-up interactive...
Written on 08/08/2017, 21:57
another-record-ebit-for-deutsche-post-dhlBONN: August 08, 2017. Deutsche Post DHL (DPDHL) has reported a 4.7 percent increase in net profit to €1.18 billion on a 5.8 percent rise in revenue to...
Written on 07/08/2017, 21:23
amazon-operator-atsg-to-add-a321-freighter-conversionsBEAVERTON, OR/WILMINGTON, OH: August 07, 2017. Conversion specialist Precision Aircraft Solutions (PAS) and Air Transport Services Group (ATSG) have...
Written on 03/08/2017, 20:14
cargo-still-challenging-despite-turnaround-says-lufthansaFRANKFURT: August 03, 2017. The Lufthansa Group has reported a 99 percent rise in pre-tax profit to €1.03 billion on a 12.7 percent increase in revenue to...
Written on 02/08/2017, 20:19
hong-kong-air-cargo-leases-atlasPURCHASE, NY: August 02, 2017. Atlas Air Worldwide Holdings (AAWH) has leased three B747-400 freighters under an ACMI contract beginning in September 2017...
Written on 02/08/2017, 19:27
dunkerque-to-power-brittany-ferriesDUNKERQUE: August 01, 2017. A month after signing an agreement to develop an LNG station to supply tank trucks, Dunkerque LNG and Total Marine Fuels...
Written on 01/08/2017, 16:53
revenue-gain-for-g-w-railroadDARIEN, CT: August 01, 2017. Railroad company Genesee & Wyoming (G&W) has reported an unchanged net income of US$75.4 million on a 7.6 percent...
Written on 01/08/2017, 14:48
freightweek-news-update-week-31KUWAIT: August 05, 2017. Global logistics provider Agility has reported a Q2 net profit of KD16.8 million on revenue of KD342.1 million, an increase of...
Written on 31/07/2017, 15:32
sohar-ocean-container-throughput-upSOHAR, Oman: July 31, 2017. The Port of Sohar and Freezone reports an 11 percent increase in container volume in Q2 2017 over the same period last year....
Written on 30/07/2017, 23:45
crowley-introduces-another-cuba-servicePORT EVERGLADES, FL: July 27, 2017. Crowley Logistics has begun a three times a month service to deliver "approved donated goods" from South Florida to...
Written on 28/07/2017, 17:53
u-s-europe-and-china-to-form-airline-supergroupPARIS/AMSTERDAM: July 27, 2017. The Air France-KLM Group is planning to increase its capital base by €751 million to help finance a new joint venture with...
Written on 27/07/2017, 16:18
sm-line-signs-intermodal-deal-with-union-pacificOMAHA, Nebraska: July 26, 2017. Union Pacific has signed a partnership agreement with SM Line for intermodal rail distribution from Pier A at the Port of...
Written on 26/07/2017, 19:26
sal-heavy-lift-joins-with-combi-liftBREMEN/HAMBURG: July 27, 2017. Shipowner Harren & Partner (H&P) is to purchase SAL Heavy Lift from the 'K' Line Group for an undisclosed...
Written on 25/07/2017, 20:59
samskip-to-buy-nor-linesROTTERDAM: July 25, 2017. Multimode logistics services company Samskip is to acquire Nor Lines from the DSD Group to expand its shipping, transport and...
Written on 25/07/2017, 18:46
freightweek-news-update-week-30SINGAPORE July 27, 2017. Singapore Airlines reported an operating profit of S$281 million for its second quarter ending June 30 on revenue of S$3.8...
Written on 24/07/2017, 15:30
customs-app-a-hit-at-brusselsBRUSSELS: July 23, 2017. A new Customs Export app is proving popular among the BRUcargo forwarding community at Brussels Airport following a launch at the...
Written on 21/07/2017, 21:30
u-s-trucking-volumes-continue-to-growARLINGTON, VA: July 19, 2017. The American Trucking Associations' latest forecast says U.S. freight volumes will grow 2.8 percent in 2017 and then average...

- powered by Quickchilli.com -