Investment plan for Vietravel Airlines project approved
14:02 | 07/04/2020

VGP – Deputy Prime Minister Trinh Dinh Dung recently signed Decision No. 457/QD-TTg approving an investment plan for the Vietravel Airlines aviation project, invested by the Viet Nam Travel Airlines Co., Ltd., or Vietravel Airlines.

Investment plan for Vietravel Airlines project approved

With a total investment of VND700 billion (US$29.9 million), the project aims to develop an airline associated with tourism that provides domestic and international air transport services, contributing to improving Viet Nam’s air transport capacity and boosting the country’s tourism and socio-economic development in the context of global integration.

As planned, Vietravel Airlines will operate three Airbus/Boeing (or equivalent) aircraft in the first year before gradually increasing its fleet to eight aircraft in the fifth year.

 The project will be implemented at Phu Bai International Airport in the central province of Thua Thien Hue, with a lifespan of 50 years.

Work on the project will be carried out in the first nine months since its investment plan was approved. It is scheduled to be put into operation from the 10th month.

Deputy PM Trinh Dinh Dung assigned the Thue Thien-Hue provincial People’s Committee to take responsibility for the evaluation of the project file before sending it to the Ministry of Planning and Investment (MPI), ensuring Vietravel Airlines is qualified enough to implement investments on schedule and in accordance with regulations on investment.

At the same time, the agency is tasked with directing Vietravel Airlines to continue perfecting the project based on opinions from the MPI and relevant units, and supervising the company’s project implementation in line with provisions of the law, the directions of the Prime Minister and opinions of the concerned ministries and sectors, including the inspection and supervision of Vietravel Airlines’ capital mobilization according to the progress of the project.

By Vien Nhu

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