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 20/02/2018, 16:14
first-of-four-b777s-delivered-to-ukraine-international-airlinesKIEV: February 20, 2018. Ukraine International Airlines (UIA) has taken delivery of its first B777-200 aircraft from lessor AerCap to replace B767-300s on...
Written on 19/02/2018, 22:11
southwest-to-launch-international-air-cargo-servicesLOVE FIELD, TX: February 19, 2018. Southwest Airlines is to begin international airfreight services in May to Mexico City, Cancun, Cabo San Lucas/Los...
Written on 19/02/2018, 16:40
freightweek-news-update-week-08MILAN: February 20, 2018. Meridiana, Italy's long established privately-owned airline, has been renamed Air Italy following the acquisition by Qatar...
Written on 18/02/2018, 00:45
air-france-klm-keep-a-hand-in-shaping-the-gameAMSTELVEEN/PARIS: February 16, 2018. The Air France KLM Group has reported a 6.8 percent rise in Q4 2017 cargo revenue to €583 million and €2.087 billion...
Written on 16/02/2018, 21:46
swiss-tv-goes-live-in-south-korea-with-natcoZURICH/ PYEONGCHANG, South Korea: February 16, 2018. Project logistics specialist Natco AG, part of the British TransGlobal Group, has delivered all the...
Written on 15/02/2018, 18:15
ryder-opens-u-s-mexico-border-facilityMIAMI: February 14, 2018. Ryder System has opened a 109,000 sq.ft. logistics facility in Laredo, Texas to support cross-border shipments between the U.S....
Written on 15/02/2018, 16:44
miami-airport-gets-ftz-statusMIAMI: February 15, 2018. The U.S. Department of Commerce has designated Miami International Airport's entire 3,230-acre land parcel as a Foreign Trade...
Written on 14/02/2018, 16:57
jd-com-delivery-for-valentine-s-dayBEIJING: February 14, 2018. China retailer JD.com is selling 18.6 percent of its subsidiary JD Logistics for an estimated US$2.5 billion. The investors...
Written on 13/02/2018, 21:22
delta-cargo-adds-gps-tracking-to-equation-express-productATLANTA: February 13, 2018. Delta Cargo has launched 'Equation Critical', a new service with GPS-tracking for next-flight-out international shipments with...
Written on 13/02/2018, 20:14
valentine-s-day-still-a-growing-demandAALSMEER, The Netherlands: February 13, 2018. Valentine's Day, made official by Pope Gelasius in the fifth century to distract Roman Catholics from a more...
Written on 12/02/2018, 21:16
profit-surge-from-e-commerce-for-aramexDUBAI: February 12, 2018. Logistics provider Aramex has reported a nine percent increase in 2017 revenues to AED4.72 billion and a 14 percent year-on-year...
Written on 12/02/2018, 20:34
more-capacity-sharing-for-heavylift-and-project-cargoHAMBURG/ROTTERDAM: February 12, 2018. RollDock and SAL Heavy Lift are to launch a capacity pool for Roll-On/Roll-Off and Float-In/Float-Out project and...
Written on 11/02/2018, 19:37
g-w-invests-in-cargomaticDARIEN, CT: February 08, 2018. Railroad company Genesee & Wyoming has invested in Cargomatic, a technology platform connecting shippers and truck...
Written on 09/02/2018, 16:07
delta-cargo-expands-pharma-4-serviceATLANTA: February 9, 2018. Delta Cargo has added eight new destinations to its Pharma 4 program for temperature-sensitive shipments including Bogota, Hong...
Written on 08/02/2018, 19:20
ups-adds-midday-express-freight-deliveryATLANTA: February 08, 2018. UPS has added a midday service to its Worldwide Express Freight (WEF) product, offering a delivery time of 12 p.m. or 2 p.m....
Written on 08/02/2018, 14:39
evergreen-orders-eight-11-000-teu-containershipsTAIPEI: February 08, 2018. Evergreen Marine Corporation (EMC) has ordered eight 11,000 TEU containerships from Samsung Heavy Industries (SHI) for delivery...
Written on 07/02/2018, 22:05
emirates-skycargo-to-begin-daily-maastricht-flightDUBAI: February 06, 2018. Emirates SkyCargo has added Maastricht to its scheduled freighter network with an initial two B777 freighter flights a week from...
Written on 07/02/2018, 17:19
heavylift-bucket-delivered-to-angolaANTWERP: February 07, 2018. Heavylift and project cargo specialist Manora Logistics has recently completed the delivery of equipment to the mine and iron...
Written on 07/02/2018, 16:21
vallair-orders-10-a321-freighter-conversions-from-efwSINGAPORE: February 07, 2018. Elbe Flugzeugwerke (EFW), the aircraft conversion joint venture of ST Aerospace and Airbus, is to convert 10 A321 passenger...
Written on 06/02/2018, 22:13
ethiopian-to-begin-chicago-service-via-dublinADDIS ABABA: February 06, 2018. Ethiopian Airlines is to begin a three times weekly B787 service from Addis Ababa to Chicago via Dublin on June 09. The...

- powered by Quickchilli.com -