More large corporations have released 2019 finance reports. The 2019 business season witnessed a boom of enterprises with the profit of over VND10 trillion.
The Vietnamese aviation market has been recording double-digit growth in the last four years, but the growth rate is slowing.
With more airlines planning to take flight in 2020, the room for profit-making is expected to narrow in the burgeoning aviation market, triggering doubts over the possibility of achieving success among newcomers.
Vietnam’s Ministry of Transport supports the establishment of Kite Air as room remains large for airlines utilizing small airports, in turn meeting Vietnam’s huge transport demands.
In a proposal to the Ministry of Transport (MOT) to establish an air carrier, Vinpearl Air owned by billionaire Pham Nhat Vuong said it wants to choose Noi Bai as the base airport.
Vingroup’s Vinpearl Air selected Noi Bai International Airport in Hanoi as its base, however, no prime flight slots are available for the carrier’s flights.
Phan Xuan Duc, former deputy general director of the national flag carrier Vietnam Airlines, has been named chief executive officer of Vinpearl Air, which was recently established by Vingroup.
Vo Huy Cuong, deputy head of the Civil Aviation Authority of Vietnam (CAAV) on July 10 confirmed that CAAV has not received an application for a license from Vinpearl Air JSC.