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AirAsia partnership limited by authorities

17 Nov 2017 00:46:19

english.vietnamnet.vn

MoT officially responded to the proposal of the Hanoi Department of Planning and Investment (HDPI) regarding adjustments in Hai Au Aviation’s investment certificate after the domestic airline announced intentions to accept the investment from Malaysia-based AirAsia Investment.

After receiving foreign investment, Hai Au Aviation also had another scheme of raising its charter capital from VND100 billion ($4.4 million) to VND1 trillion ($44 million), 30 per cent of which would belong to AirAsia.

Along with the intention of raising the market cap, Hai Au Aviation planned to register other businesses, some of which are not included in the list of services under Vietnam's WTO commitments, such as air transport support services (746), commodity loading and discharging (7419), passenger carriage (CPC 7311, 7312), aircraft services with pilot included (CPC 734), and air ticket services.


Read full story: english.vietnamnet.vn

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