PM approves operation and organisation regulations of Vietnam Airlines

The prime minister on April 20 approved the operation and organisation regulation for Vietnam Airlines Corp (Vietnam Airlines) whereby Vietnam Airlines has a chartered capital of 8.942 trillion dong.

VietNam Airlines is a one-member limited company with 100 percent stake held by the state operating under the parent-subsidiary company model in line with the Law on Business, relevant legal regulations and the operation and organisation regulations of VietNam Airlines.

The carrier specialises in air transportation for passenger, baggage, cargo, parcels, postal mail, general aviation operations and maintenance for aircraft, engine, spare parts, aviation equipments and other technical devices.

The member council Vietnam Airlines has 5-7 members with term of no later than five year. The members of the member council may be re-appointed.

Reportedly, during past 15 years, Vietnam Airlines has transported more than 82 million passengers, including 12.3 million ones in 2010, increasing 5.5 times against 1995′s.

The national flag carrier has also posted impressive growth of 12.1 percent per year with the average cargo transportation growth at 11.6 percent per year, to reach 1.24 million tonnes.

Especially, on June 10, 2010, Vietnam Airlines officially become the tenth member and strategic partner in Southeast Asia of the SkyTeam Global Airline Alliance.

According to the plan to 2010, Vietnam Airlines’ fleet will reach 163 aircrafts with modern airplane types such as B787 and A350, with a spanning flight network of over 120 routes to 65 points in the world. Passenger transport will reach almost 35 million people with the market share of about 45 percent and cargo transport of over 620,000 tonnes.

The carrier also expects to reach annual revenue of about $7 billion per year from now till 2020. – ChinhPhu

Tags: Vietnam airlines, Vietnam aviation, Vietnam aviation industry, Vietnam aviation market