Vietnam Airlines marks 8,000 safe flights on A350

Amid growing interest among foreign investors in the aviation market, Vietnam Airports Corporation and Vietnam Airlines – the two most influential corporations in the aviation sector – will continue to divest large state stakes to fund future development plans.   Deputy Prime Minister Vuong Dinh Hue signed Decision No.1232/QD-TTg on August 17, approving the state stake divestment for state-owned enterprises (SOEs) and corporations in 2017-2020, with Vietnam Airports Corporation (ACV) and the flag carrier Vietnam Airlines (VNA) both named among the many in line for divestment. ACV will have to sell off 20 per cent of its state stake in 2018 and 10.4 per cent in 2019, while VNA will have to sell 35.16 per cent in 2019, thus cutting state ownership in the firms to 65 per cent and 51 per cent, respectively. “The divestment will be a good chance for foreign investors to join the local aviation market. Many foreign investors are interested in acquiring stake in the firms,” Deputy Transport Minister Le Dinh Tho told VIR. According to Thomas Treutler, partner and managing director of Tilleke & Gibbins Consultants Limited, foreign investors will certainly be interested in investing in well-established airlines. Travel to Vietnam for business and tourism will continue to rise, as will outbound travel for Vietnamese businesses reaching out internationally to investors and Vietnamese citizens travelling internationally for tourism. “Domestic travel within the country is also booming, with…... [read more]

Vietnam Airlines JSC is planning to sale and leaseback of one (01) GEnx-1B74/75 spare propulsion engine (SPE) for B787 fleet with the ToT schedule in December 2017.  If there would be of your interest, please do not hesitate to contact us at the following address: Ms. Phan Diem Anh – Finance and Accounting Department, email: [email protected] Mr. Mai Trung Hieu – Finance and Accounting Department, email: [email protected] Mr. Nguyen Truong Giang – Finance and Accounting Department, email: [email protected] State-owned aviation firms soon for heavy divestment Amid growing interest among foreign investors in the aviation market, Vietnam Airports Corporation and Vietnam Airlines – the two most influential corporations in the aviation sector – will continue to divest large state stakes to fund future development plans. VNA lulls shareholders with promises of long-term benefits At its 2017 annual shareholders’ meeting, national carrier Vietnam Airlines (VNA) satisfied its shareholders by answering plenty of difficult questions and promising to focus on sustainable development. Vietnam Airlines plans for stability Vietnam Airlines is planting the foundations for stable, sustainable growth and better customer service. Vietnam Airlines may open direct flights to US next year Civil Aviation Authority of Vietnam (CAAV) and national carrier Vietnam Airlines (VNA) are completing the necessary procedures to open a…... [read more]

The historic August 22-24 official visit to Indonesia by Party General Secretary Nguyen Phu Trong has served as a new driving force for Vietnam and Indonesia to further tighten bilateral investment co-operation. Thanh Tung reports from Jakarta. During the visit, many Indonesian firms and investors expressed their big interest in Vietnam’s market Last Wednesday afternoon, Samal Abdul Nasir Bamadhaj – director of Indonesia’s Intra Asia Indonesia – came to the storied Raffles hotel in  Indonesia’s capital city of Jakarta to sign a memorandum of understanding (MoU) on coal trading and seaport investment with Vietnam’s Hong Phat Group. The document, signed during Party General Secretary Nguyen Phu Trong’s official visit to Indonesia last week, would enable the Indonesian firm to build a $1 billion coal port in Vietnam. “I feel very happy about the signing of the MoU. It is very important to us as it will be the prerequisite for us to co-operate with Hong Phat, and we will realise it very soon,” Bamadhaj told VIR. The port, with a designed capacity of about 15-20 million tonnes of coal per year, will be largely used for cargo and logistics to serve export and import activities between Indonesia and Vietnam, especially coal. This is the first time that Intra Asia Indonesia, a coal miner and trader with three mines throughout Indonesia, has co-operated with a Vietnamese firm. Earlier, Hong Phat’s representatives came to Jakarta…... [read more]

Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will put 500 million shares on sale in two phases. Techcombank expects to earn $190 million on the sales According to newswire CafeLand, in the first phase, Techcombank will issue 70 million shares at the initial price of VND30,000 ($1.32) apiece. The sale is expected to take place between September and October or when the bank receives approval from State Securities Commission of Vietnam. In the second phase, the bank will sell the remaining 430 million shares, aiming to add VND4.3 trillion ($189.27 million) to its chartered capital. The time for the sale will be decided after Techcombank completes the first round. If successful, Techcombank’s chartered capital will increase from VND8.8 trillion ($387.69 million) to VND13.8 trillion ($607.96 million) after the two sales. This is the largest capital increase Techcombank has made since 2008. Between 2008 and 2012, its charter capital was increasing regularly, from VND4.7 trillion ($207.07 million) to VND8.8 trillion ($387.69 million). All proceeds from the share sale are expected to be invested in the VND916 billion ($40.35 million) expansion of its head office and fixed assets. It will also spend VND1.6 trillion ($70.5 million) on technology and equipment. The bank will also increase its capital for credit activities and investment in government bonds to some VND2.4 trillion ($105.76 million). Previously, during the period from July 14 to August 12, Techcombank…... [read more]

The carrier has also been listed among the top 10 Vietnam’s famous brands for the third consecutive year. It is not only an affirmation of the Corporation's position and quality of service, but also a strong legal proof in dealing with Vietnam Airlines’s trademark infringement. Photo for illustration. Source:  Speaking at the awarding ceremony, Deputy-General Director of VNA said: “Being as one of the top 10 Vietnamese famous brands helps VNA protect better it’s trademark in the market, especially when the infringement of its trademark has increased recently. In addition, it affirmed that VNA’s position, brand name as well as the service quality of the four-star carrier have already been recognized by customers.” The “Vietnamese Famous Brand” and “Vietnamese Competitive Brand” awards are organized by the Vietnam Intellectual Property Association with the aim of recognizing and honoring outstanding enterprises in the era of international integration and competition. The annual program with the participation of enterprises across the country such as VNPT, Techcombank, Vingroup, Traphaco, helps to widely popularize to consumers some of the Vietnamese high quality products and prestigeous trademarks. At the same time, the program also provides an occasion for enterprises to see the benefits, and how to protect their trademarks and prevent trademark infringement on domestic and international markets. Translated by Thuy Duong  ... [read more]

The government has just announced the list of 406 state-owned enterprises (SOEs) to be divested in the 2017-2020 period, drawing heavy attention from investors. The list includes many big names, such as Vietnam Engine and Agricultural Machinery Corporation (VEAM), Airports Corporation of Vietnam (ACV), Vietnam Airlines, PVOil, and PVTex, promising interesting market prospects ahead. Big players take to the field According to the yearly SOE divestment plan approved by the prime minister, 406 SOEs will be divested in the next four years (2017-2020), with 135 SOEs scheduled for 2017 alone. The announcement of this list will speed up the divestment process in SOEs that do not require government control, allowing the state apparatus to focus on the more crucial aspects of the economy as well as to secure the appropriate revenues for the mid-term 2016-2020 investment plan. 406 SOEs will be divested in the next four years, with 135 in 2017 alone According to Dang Quyet Tien, deputy director of the Department of Corporate Finance under the Ministry of Finance (MoF), this announcement is an important step to attract the attention of potential investors. Instead of waiting for the chance drop of information, investors can now get a clear overall picture of all SOEs ready for divestment and take their pick, significantly increasing investment efficiency. “I believe this is a necessary step to increase the speed and effectiveness of corporate management during the…... [read more]

This latest eighth A350 has just made its first commercial flight from Ha Noi to HCM City on August 21. Since taking over the first Airbus A350-900 in July 2015, after two years, Vietnam Airlines has eight aircrafts now, operating more than 8,000 flights and transporting over 2.2 million passengers. The A350 uses the Rolls Royce’s Trent XWB engine. It is one of the largest, most efficient and most fuel efficient civil aviation engines in the world today (25 per cent). With the under-belts illumination system, the A350-900 also has an optimal lightning protection system that ensures safety during the operation. The economy cabin includes rows of nine seats each, with cabling system under the floor, larger windows than in normal aircraft, and large seats which can accommodate a suitcase for each passenger. The business class cabin in A350 has seats designed like fish bone with private space for passengers. The chairs can be adjusted to a flat 180 degrees angle to make them a flat bed, helping passengers relax and rest comfortably. On an A350, there are 29 business class seats. The international…... [read more]

Thuong Hoa elementary and secondary school (Source: Vietnam Airlines) Hanoi (VNA) – The national flag carrier Vietnam Airlines (VA) on August 19 inaugurated a new school for pupils in the mountainous commune of Thuong Hoa, Minh Hoa district, the central province of Quang Binh. The Thuong Hoa elementary and secondary school was built at a total cost of nearly 5 billion VND. The handover of the school was concurrent with the new academic year 2017-2018 and the 72nd anniversary of August Revolution (August 19) and National Day (September 2).  The school has two-storey buildings, including four classrooms, two functional rooms, two housing areas for teachers and supporting facilities. Pham Ngoc Vui, Chairman of the VA Labour Union, said it is the last of seven social welfare works worth 35 billion VND (1.52 million USD) in total funded by the carrier under the government’s Programme 30A on supporting rapid and sustainable poverty reduction in 61 poor districts. The school was founded in 1963 to train more than 400 ethnic students in the locality. However, due to limited local budget, its poor infrastructure impacted teaching and learning quality. Launched in 2008, Programme 30A aims to reduce poverty rate in 61 poor districts to the average level of the region via special policies and mechanisms, support in education and vocational training, and infrastructure in villages, communes and districts.-VNA... [read more]

Accordingly, the cost incurred each time a plane touches down or takes off will rise by 5% from the current level, and there are plans to raise it by a further 5% from June 2018, the Ministry of Transport said. In addition, a 15% premium will be charged for planes that take off or land during peak hours, while a 15% discount will be offered for those that arrive or depart in off-peak periods.  The price hike aims to help airport operators cover maintenance expenses and fund upgrade work, the Civil Aviation Authority of Vietnam (CAAV) said. It added that the sharp increase during peak hours will encourage carriers to use the airport at quiet times to avoid overcrowding. After the initial increase, airlines will have to pay from VND700,000 (US$30) to VND5.8 million for all takeoffs and landings, depending on the size of the plane. If airport service fees go up, it is only a matter of time before airfares follow suit, a representative from a local airline told VnExpress. "We can suffer lower profits in the short term, but in the long term we will have to raise fares," the representative said, declining to be named. Airports across the country served more than 55 million passengers during the first seven months of this year, figures from the CAAV showed. Currently, there are 63 foreign airlines from 25 countries and territories operating in Vietnam. Foreign airlines together with domestic carriers Vietnam…... [read more]

Hanoi, August 17 (VNA) - Prime Minister Nguyen Xuan Phuc has urged the aviation industry to tighten security and safety as they are important issues currently.  This requirement was one of six in a message from the Prime Minister sent to the aviation industry at the meeting between the Government working group led by Minister – Chairman of the Government Office Mai Tien Dung and representatives of three aviation firms, including Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Vietnam (ACV), in Hanoi on August 16.  The meeting aimed to urge the industry to boost business and production, contributing to hitting the country’s GDP growth target this year as well as discovering and solving difficulties. The businesses will then have to report and explain the problems to the Government and the PM.  In the message, PM Phuc said the industry has grown but has to ensure security and safety, seen as the most important issue.  “Whatever the circumstances, we will not let danger occur,” said Dung, who also mentioned problems related to air traffic management recently at Cat Bi Airport in the northern city of Hai Phong.  The PM mentioned the importance of increasing the frequency of take offs and landings and said that many international airports had a frequency of two minutes per flight, or even one minute per flight.  Dung also questioned the plan to double the annual capacity of Tan Son Nhat International Airport from its current capacity of…... [read more]

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