Vietnam Airlines eyes IPO next year
Vietnam Airlines revealed growth plans aiming at positioning the airline as the second largest in Southeast Asia behind Singapore Airlines.
The expansion’s funding should come from an IPO in the second half of 2013.
At present, the carrier is wholly owned by the Vietnamese government. The airline’s revenue in 2011 was up 25 percent, and the passenger volume grew by ten per cent.
According to the airline’s President and CEO Pham Ngoc Minh, who spoke to journalists at a press meeting in March, Vietnam Airlines wants to overtake both Garuda Indonesia and Malaysia Airlines by 2015 and Thai Airways by 2020.
At that time, Vietnam Airlines is planning to have enlarged its fleet to 170 from 73 aircraft. According to Vietnamese Dau Tu newspaper, the investment into the fleet will be $8.38 billion. The airlines also plans to tighten its network within Southeast Asia and to launch services to international gateways in Europe, India, and the Middle East. Recently, a service to London from Ho Chi Minh City and Hanoi has been launched. At a later point of time, the carrier wants to take up flights to Los Angeles and other US destinations. The airline is currently operating around 300 flights a day.
Vietnam Airlines is a 49 per cent shareholder of Cambodia’s national carrier Cambodia Angkor Air, and owns 70 per cent of low-cost Vietnamese airline Jetstar Pacific. Its subsidiary VASCO (Vietnam Air Service Company) serves domestic routes. Cambodia Angkor Air is supposed to launch regular flights to Myanmar and Hong Kong in the near future.
[caption id="attachment_2733" align="alignleft" width="300" caption="Vietnam Airlines has aggressive expansion plans"][/caption] Vietnam Airlines revealed growth plans aiming at positioning the airline as the second largest in Southeast Asia behind Singapore Airlines. The expansion's funding should come from an IPO in the second half of 2013. At present, the carrier is wholly owned by the Vietnamese government. The airline's revenue in 2011 was up 25 percent, and the passenger volume grew by ten per cent. According to the airline's President and CEO Pham Ngoc Minh, who spoke to journalists at a press meeting in March, Vietnam Airlines wants to overtake both Garuda...
Vietnam Airlines revealed growth plans aiming at positioning the airline as the second largest in Southeast Asia behind Singapore Airlines.
The expansion’s funding should come from an IPO in the second half of 2013.
At present, the carrier is wholly owned by the Vietnamese government. The airline’s revenue in 2011 was up 25 percent, and the passenger volume grew by ten per cent.
According to the airline’s President and CEO Pham Ngoc Minh, who spoke to journalists at a press meeting in March, Vietnam Airlines wants to overtake both Garuda Indonesia and Malaysia Airlines by 2015 and Thai Airways by 2020.
At that time, Vietnam Airlines is planning to have enlarged its fleet to 170 from 73 aircraft. According to Vietnamese Dau Tu newspaper, the investment into the fleet will be $8.38 billion. The airlines also plans to tighten its network within Southeast Asia and to launch services to international gateways in Europe, India, and the Middle East. Recently, a service to London from Ho Chi Minh City and Hanoi has been launched. At a later point of time, the carrier wants to take up flights to Los Angeles and other US destinations. The airline is currently operating around 300 flights a day.
Vietnam Airlines is a 49 per cent shareholder of Cambodia’s national carrier Cambodia Angkor Air, and owns 70 per cent of low-cost Vietnamese airline Jetstar Pacific. Its subsidiary VASCO (Vietnam Air Service Company) serves domestic routes. Cambodia Angkor Air is supposed to launch regular flights to Myanmar and Hong Kong in the near future.
