Thursday, 19 January 2012 at 10:12, Bloomberg
Vietnam Airlines is expanding international routes and considering selling shares to the public. (REUTERS)
Prime Minister Nguyen Tan Dung ordered state-owned Vietnam Airlines to take over the government’s controlling stake in the Jetstar Pacific discount- carrier venture with Australia’s Qantas Airways Ltd.
The transfer of the stake to Vietnam Airlines from State Capital Investment Corp, or SCIC, took effect January 16, according to a statement on the government’s website.
Vietnam Airlines is expanding international routes and considering selling shares to the public, Chief Executive Officer Pham Ngoc Minh said last month. The carrier will inherit the rights and obligations of a state shareholder in Jetstar Pacific and nominate personnel to join its management board, according to the statement.
State-owned SCIC will hand all Jetstar Pacific documents to Vietnam Airlines and organise a shareholding meeting to announce the transfer.
Qantas’s budget arm Jetstar said December 8 that Vietnam Airlines would be welcomed as a partner and that it has no plans to quit Vietnam. Sydney-based Qantas owns 27 per cent of the venture.
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