VIETNAM'S FIRST CHARTER AIRLINE TO FLY IN 2017

The company, set up in June, is based in Ho Chi Minh City with a capital of VND300 billion ($13.45 million). According to CAAV, the dossier met all requirements regarding capital, aircrafts, and the owners’ credentials.

According to Decree 92/2016/ND – CP on conditional businesses in civil air transport, dated July 1, 2016, based on the result of the CAAV review, the Ministry of Transport is going to prepare a report requesting the prime minister to license Vietstar.

If the Prime Minister approves, Vietstar is going to start flying in 2017 with a fleet of seven aircrafts, five of which (Airbus A320, A321, and Boeing 737 models) will carry passengers, and two (Boeing737 – 300 Freighters) will carry cargo.

Vietstar is going to operate routes linking North and South of Vietnam, as well as going to North Asia and South East Asia. It expects to carry 561,000 travellers and 32,000 tonnes of cargo in the first year of operation. The company plans to expand the fleet to 19 aircrafts in 2020, nine of which will be Boeing 737 – 300 Freighters.

In the 2010-2015 period Vietnam’s air transport market grew at an annual average of 15.9 per cent in passengers and 10.7 per cent in cargo. In 2015 Vietnamese airports transported 63 million travellers and 940,000 tonnes of cargo, an increase of 24.3 and 7.8 per cent, respectively, compared to 2014.

Source: VIR