Vietnam Airlines to select strategic investor

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Vietnam AirlinesVietnam Airlines, the nation’s national carrier planning for an IPO, said it will select a strategic investor as early as in the 4th quarter of 2013.

A corporate evaluation report is expected to be completed in August to submit to authorities for approval, the Hanoi-based airline said in a statement to Bloomberg.

The plan has been revived as VietJet Aviation, the country’s only privately owned carrier, said last week it is considering an IPO to fund expansion.

The Vietnamese government has been trying to conduct an IPO of state-owned Vietnam Airlines since at least 2010 amid intensifying domestic competition. The company expects to hold the share sale in the second half of 2014, after a planned offering in 2012 was delayed twice.

Vietnam Airlines said it has been working with advisers including Morgan Stanley and Citigroup to evaluate its assets for the IPO.

The airline carried about 7.3 million passengers in January through June, a 6.4 per cent increase from the same period last year. It expects to carry 14.4 million passengers in 2013, up from 13.5 million in 2012.

 

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Reading Time: 1 minute

Vietnam Airlines, the nation’s national carrier planning for an IPO, said it will select a strategic investor as early as in the 4th quarter of 2013.

Reading Time: 1 minute

Vietnam AirlinesVietnam Airlines, the nation’s national carrier planning for an IPO, said it will select a strategic investor as early as in the 4th quarter of 2013.

A corporate evaluation report is expected to be completed in August to submit to authorities for approval, the Hanoi-based airline said in a statement to Bloomberg.

The plan has been revived as VietJet Aviation, the country’s only privately owned carrier, said last week it is considering an IPO to fund expansion.

The Vietnamese government has been trying to conduct an IPO of state-owned Vietnam Airlines since at least 2010 amid intensifying domestic competition. The company expects to hold the share sale in the second half of 2014, after a planned offering in 2012 was delayed twice.

Vietnam Airlines said it has been working with advisers including Morgan Stanley and Citigroup to evaluate its assets for the IPO.

The airline carried about 7.3 million passengers in January through June, a 6.4 per cent increase from the same period last year. It expects to carry 14.4 million passengers in 2013, up from 13.5 million in 2012.

 

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