Vietravel Airlines seeks to fly next year

Vietravel Airlines, an airline just established by local tour operator Vietravel, plans to launch its maiden flight in October next year.

Vietravel Airlines seeks to fly next year
Passengers disembark from a Vietnam Airlines aircraft

In the first year of operations, Vietravel Airlines will use three Airbus 320/321 or B737 aircraft. The number of aircraft in its fleet is expected to increase to eight in the next five years.

On February 19, Vietravel Airlines received its business license from the Department of Planning and Investment of the central province of Thua Thien-Hue, where Vietravel Airlines will be headquartered. It also increased its charter capital from VND300 billion to VND700 billion in May.

The Thua Thien-Hue Department of Planning and Investment has consulted the Ministries of Planning and Investment and Transport on the appraisal of the Vietravel Airlines air passenger transport project.

The project, which requires an investment of VND700 billion, is aimed at providing air transport services at home and to other countries, contributing to the development of Vietnam’s aviation and tourism sectors.

In related news, Vietnam Airlines has reported its business performance in the first half of the year, with consolidated revenue reaching VND51.7 trillion, up 5.5% year-on-year, and consolidated pretax profit exceeding the target by 30% to hit VND1.65 trillion.

In the period, the airline continued to have positive financial indicators, with a debt to equity ratio of 2.32, lower than the 2.58 seen early this year and well below the limit set by the State.

The national flag carrier operated 73,650 safe flights, carrying over 13.9 million passengers and 180,000 tons of cargo, up 2% and 1.6% year-on-year, respectively. Its on-time performance, averaging at 90%, remained among the highest globally.

Thanks to its operational efficiency, Vietnam Airlines Group (including Vietnam Airlines, Jetstar Pacific and Vietnam Air Services Company) continued to spearhead the local aviation market, carrying nearly 51% of the aggregate passenger volume.

 

These figures reflect Vietnam Airlines’ robust performance amid a slowdown in purchasing power growth, a surge in fuel prices during the first five months and fluctuations in the exchange rates.

In the January-June period, Vietnam Airlines also introduced Premium Economy Class on the Hanoi-HCMC route. In addition, the quality of its services on international flights was further improved as the carrier began using wide-body Airbus A350 and Boeing 787 aircraft on routes to other Southeast Asian destinations and moved its operations in Russia’s capital of Moscow from Domodedovo Airport to Sheremetyevo Airport.

Further, Vietnam Airlines Group launched seven new domestic routes connecting HCMC to Chu Lai, Hanoi to Dong Hoi and Danang to Thanh Hoa, Vinh, Dalat, Phu Quoc and Can Tho.

In the first six months, the carrier received eight narrow-body Airbus A321neos and two wide-body Airbus A350s, completing its total order of 14 Airbus A350s.

In the second half of 2019, Vietnam Airlines plans to invest in 20 narrow-body Airbus A321neo aircraft and put into use three wide-body Boeing 787-10s. SGT

Le Anh

PM orders reports on airlines staff shortage

PM orders reports on airlines staff shortage

Prime Minister Nguyen Xuan Phuc has asked the Ministry of Transport to report on the shortage of airlines staff and solutions affecting Vietnamese airlines.  

Private airlines bring dynamism to Vietnam’s aviation industry

Private airlines bring dynamism to Vietnam’s aviation industry

The foray of private airlines have brought dynamism to Vietnam’s aviation industry, according to Vu Tien Loc, president of Vietnam Chamber of Commerce and Industry (VCCI).  

 
 

Other News

.
Investment into local start-ups expected to rise this year
Investment into local start-ups expected to rise this year
BUSINESSicon  01/06/2021 

The investment capital into Vietnamese start-ups this year would see a breakthrough despite a year-on-year decrease of 48 per cent in 2020 to reach US$451 million.

New master plan for seaports needed to further boost economic development
New master plan for seaports needed to further boost economic development
BUSINESSicon  01/06/2021 

A new master plan for seaports is needed to further boost the country’s socio-economic development in the rapid international integration process, experts have said.

Realty tax needs revamp to ensure fairness
Realty tax needs revamp to ensure fairness
BUSINESSicon  31/05/2021 

Realty tax not only creates sources of collection for the State budget but also is a policy able to spur growth and reduce bribery related to land. Vietnam does have realty tax.

Many companies manufacture components for Samsung, Foxconn resume operations
Many companies manufacture components for Samsung, Foxconn resume operations
BUSINESSicon  01/06/2021 

The Management Board of Industrial Parks of Bac Giang Province has allowed nine enterprises in Van Trung, Dinh Tram and Quang Chau industrial parks in Viet Yen district, Vietnam’s largest epidemic hotspot, to resume operations.

Market will continue to breach new highs, but investors should be more cautious: experts
Market will continue to breach new highs, but investors should be more cautious: experts
BUSINESSicon  31/05/2021 

The market witnessed strong buying interest last week and analysts from many securities firms expect indices to continue to hit new highs, but have warned investors to be cautious.

E-commerce changing domestic retail property market
E-commerce changing domestic retail property market
BUSINESSicon  31/05/2021 

The shift toward e-commerce due to the COVID-19 pandemic has brought challenges to Vietnam’s retail property market, according to Savills Vietnam.

Customs sector helps exporters utilise benefits of FTAs
Customs sector helps exporters utilise benefits of FTAs
BUSINESSicon  30/05/2021 

The customs sector will continue to introduce measures to help Vietnamese enterprises fully tap the benefits brought about by FTAs Vietnam has signed with foreign partners, an official from the General Department of Vietnam Customs has said.

CPI inches up 0.16 percent in May
CPI inches up 0.16 percent in May
BUSINESSicon  30/05/2021 

Vietnam’s consumer price index (CPI) in May was up 0.16 percent agaisnt April and 2.9 percent from last year, reported the General Statistics Office (GSO) on May 29.

Major transport infrastructure works to be started in June
Major transport infrastructure works to be started in June
BUSINESSicon  30/05/2021 

Four major transport projects will be kicked off in June, announced the Ministry of Transport at a conference on May 28.

Lending interest rates about to increase
Lending interest rates about to increase
BUSINESSicon  30/05/2021 

Recently, the interbank interest rates suddenly jumped, causing many people to worry whether bank lending rates will increase in the coming time while the business and production activities have been facing many difficulties due to Covid-19.

HCMC to try reigniting delayed BT projects
HCMC to try reigniting delayed BT projects
BUSINESSicon  30/05/2021 

Financial shortcomings of investors combined with the government’s failure to offer support are some of the reasons multiple BT infrastructure projects in HCMC are being delayed indefinitely, experts said. 

Firms should facilitate Gen Z to develop
Firms should facilitate Gen Z to develop
BUSINESSicon  30/05/2021 

Enterprises should consider applying new thoughts or amend regulations to meet the demand of Gen Z, including those born in 1996-2010, and create favorable conditions for them to develop as they will be an important part of the country’s workforce.

Vietnam credit growth forecast to hit 14% in 2021: Fitch Solutions
Vietnam credit growth forecast to hit 14% in 2021: Fitch Solutions
BUSINESSicon  30/05/2021 

A GDP growth of 5.8% in 2021, nearly double the 2.9% growth last year, would boost credit demand.

VIETNAM BUSINESS NEWS MAY 31
VIETNAM BUSINESS NEWS MAY 31
BUSINESSicon  31/05/2021 

New COVID-19 outbreak puts brakes on trade, transport

More Vietnamese agro products to be available on e-commerce platforms
More Vietnamese agro products to be available on e-commerce platforms
BUSINESSicon  29/05/2021 

Following successful sales of lychees, efforts have been made to sell other Vietnamese farm produce on e-commerce platforms, the Nong nghiep Viet Nam (Vietnam Agriculture) newspaper has reported.

Debt burden risks budget stability
Debt burden risks budget stability
BUSINESSicon  29/05/2021 

Vietnam has had outstanding economic development in recent decades, even through the pandemic so far. 

Paint makers’ fresh coat of progress
Paint makers’ fresh coat of progress
BUSINESSicon  29/05/2021 

Having one of the fastest-growing paint and coating industries in the Southeast Asian region, Vietnam is mainly dominated by international paint and coating groups, but it is now witnessing a refresh as local makers attempt to gain some traction.

Many factors behind rising inflation
Many factors behind rising inflation
BUSINESSicon  31/05/2021 

The 2020 Consumer Price Index (CPI) in Vietnam was contained at 3.23%, but which will be difficult to maintain at a target of 4% in 2021.

'Black-credit' lenders pose serious threat to borrowers
'Black-credit' lenders pose serious threat to borrowers
FEATUREicon  28/05/2021 

Experts have repeatedly rung the alarm bell over black credit, which is causing serious consequences to families and society.

70% of VN adults use banking services but many lack access to credit
70% of VN adults use banking services but many lack access to credit
BUSINESSicon  30/05/2021 

According to the State Bank of Vietnam, by 2020, 70% of adults in Vietnam had a bank account, but nearly half of them did not have access to credit. 

 
 
 
Leave your comment on an article

OR QUICK LOGIN