Indochina Airlines becomes Vietnam’s first privately owned airline

November 25th, 2008 - 4:23 pm ICT by Amrit Rashmisrisethi  

Among the South-east Asian countries , Vietnam is the first to launch its privately-owner airline which begins on Tuesday.

Owned by a group of Vietnamese businessman, the Indochina Airlines. The airline will operate four daily flights the southern commercial centre of Ho Chi Minh City and Hanoi, said company spokesman Nguyen Thi Thanh Quyen.

The company, chaired by Ha Hung Dung, a well-known Vietnamese pop music composer and businessman, offers two flights daily between Ho Chi Minh City and the central coastal city of Danang.

‘The launch of our airlines aims to meet growing air travel demand in Vietnam and will offer more choices for customers,’ she said.

Indochina Airlines will be third airline to offer domestic flights in Vietnam, including national carrier Vietnam Airlines and Jetstar Pacific, a partnership between a state-owned carrier and Australia’s Qantas, which is currently holding an 18 per cent stake.

Indochina Airlines has registered capital of US$12 million , Ms Quyen said, and is leasing two 174-seat Boeing 737-800s.

In a few years, the company hopes to add flights to the resort city of Nha Trang and the ancient capital of Hue, and also in the country’s region.

Passenger air travel to and from Vietnam has grown between 13 and 17 per cent annually in recent years, according to Vietnam’s Civil Aviation Administration

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