Vietnamese musician applies for private airline establishment
10/3/2008 17:08
A Vietnamese musician has applied for setting up a private airline with
chartered capital of 200 billion Vietnamese dong (VND) (US$12.5 million), local
newspaper Labor reported today.
If receiving license from the Vietnamese
Transport Ministry, Air Speed Up will be the country's second private airline
which plans to conduct domestic flights mainly in the north-south route in the
first five years, the paper quoted Vice Director of the Civil Aviation
Administration of Vietnam Lai Xuan Thanh as saying.
Late last year, the
ministry granted air transport license to the country's first private airline,
Vietjet Air. The airline with a chartered capital of 600 billion VND (US$37.5
million) plans to launch its first commercial flight in December 2008 or early
2009.
Now, Vietnam has three operational domestic carriers, including Vietnam
Airlines which holds a domestic market share of over 80 percent, joint-stock
Pacific Airlines, and Vietnam Air Services Company, an affiliate of Vietnam
Airlines.
Vietnam's aviation market is expected to grow 12-14 percent
annually in the 2006-2010 period, 9-11 percent in the 2010-2015 period, and
10-12 percent in the 2015-2020 period, according to the Civil Aviation
Administration of Vietnam.
Xinhua
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