Vietnam Airlines to equitize its affiliates

Việt Nam is on way to equitize State-owned enterprises

Vietnam Air Petrol Company (VINAPCO), another affiliate of Vietnam Airlines, must transform into single-member liability- limited company if it does not complete the equitization prior to July 17, 2010.

The national carrier must report to the PM the establishment of the joint-stock airlines VietAir and the rearrangement of the Vietnam Air Services Company (VASCO) and the Vietnam Aviation Institute (VAI) in the first quarter next year.

VNA was established in January 1956. Over the past 15 years, the carrier records an annual growth rate of over 10%.

It has one of the most modern fleets in the region, with a total of 48 aircrafts including ten Boeing 777-200ERs, four Airbus A330s, 12 Airbus A321s, ten Airbus A320s, ten ATR-72s and two Fokker 70s.

Most recently, VNA signed a Memorandum of Understanding (MOU) to purchase cutting-edge Airbus A350-900 and Boeing B787-8 planes. It expects to use 110 planes, including 28 Boeing 787-8 and 24 Airbus A350-900 by 2020, to provide flights to 20 domestic and 40 international destinations.

By Hải Minh