Business » Corporate
Vietnam Airlines now key stakeholder of Jetstar Pacific
The national flag carrier, Vietnam Airlines, on February 21 announced that it has taken the majority share of Jetstar Pacific Airlines (JPA) from the Vietnamese State Capital Investment Cooperation (SCIC) and becomes JPA’s biggest shareholder.
Under the arrangement, Vietnam Airlines will hold 69.93 per cent of the low-cost carrier, while the Australian Qantas Group, owns 27 per cent.
Vietnam Airlines plans to sell 3 per cent of its share to Qantas Airways in compliance with a previous agreement between Qantas Airways and SCIC.
Formerly known as Jetstar Airlines , JPA operates almost 150 services a week to seven destinations within the country.
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Nguyen Khac Tho, deputy head of the General Department of Energy, told Tuoi Tre that state-run coal giant Vinacomin has to export coal in order to obtain capital for operation, despite the fact that the country will have to begin importing coal in 2015.
