Vietnam OKs 1st privately owned airline

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Vietnam’s prime minister has agreed to license the nation’s first privately owned airline, the government said in an announcement on its official Web site.

Vietjet Aviation Joint Stock Co. plans to begin operating domestic routes next year linking the country’s three largest cities, Hanoi, Ho Chi Minh City and Danang, according to the company’s Web site.

It has registered capital of 600 billion Vietnamese dong (US$37.5 million; euro25.5 million), the company says, and hopes eventually to offer flights to Hong Kong, Singapore and Bangkok.

Vietnam currently has three state-owned airlines — Vietnam Airlines, Pacific Airlines and Vasco.

businessweek.com