Prime Minister Nguyen Tan Dung yesterday instructed the fully State-owned Vietnam Airlines to implement a process of restructuring, after which the State would hold more than 50 per cent of the company's charter capital.
Vietnam Airlines officials were not available for immediate comment yesterday.

The PM allowed Vietnam Airlines to retain its 100 per cent stake in Vietnam Airlines Engineering Co Ltd (VAECO), under the guidelines for restructuring the airline's subsidiary companies from 2011 to 2015.

The national flag carrier was also told to equitise Vietnam Air Petrol Co Ltd (Vinapco) and to keep over 50 per cent of Vinapco after the restructuring.

Vietnam Airlines is allowed to decide its own stake in three facilities: Noi Bai International Airport Ground Services, Da Nang Airport Ground Services, and Tan Son Nhat International Airport Ground Services.

The PM ordered the carrier to report on the process of restructuring Vietnam Air Services Co (Vasco) and all aircraft purchase projects within the next two months.

The PM also noted that the decision to establish the National Vietnam Airlines Group would be considered after assessing pilot performance with the economic group model.

VNS