Well, that only took 7 years. According to Vietnam Investment Review, Vietnam Airlines has finally announced its official IPO for this September.
The move was announced at an April 2 press conference in Hanoi by Deputy Minister of Transportation Nguyen Hong Truong.
“If this goes according to plan, Vietnam Airlines will implement its IPO this September,” he said.
The national carrier originally announced plans for its public offering back in 2007 but were put on the backburner after struggling to find consultants and then by the 2009 financial crisis.
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The move comes in the midst of massive fleet expansions by Vietnamese airlines who are seeking to make inroads in the SE Asian and international aviation markets.
“If it goes forward, the IPO could raise capital for expansion. Perhaps even more significantly, it would put Vietnam Airlines on a more even playing field with Southeast Asia’s other five main flag carriers, all of which are now publicly traded,” stated the Centre for Aviation, a leading global aviation news, analysis and research provider.
Vietnam Airlines currently offers services to 21 domestic airports and 28 international destinations.
In 2013, the airline hosted 14.7 million passengers, bringing in VND140 billion in revenue.
Head over to Vietnam Investment Review for more analysis on the IPO.
