The Vietnamese conglomerate continues its relentless expansion.
On Tuesday, July 9, Vingroup announced that it has established Vinpearl Air Aviation JSC, a Hanoi-based carrier, Tuoi Tre reports. The new company was formed from an old company named VinAsia Development Service and Trading JSC.
VinAsia changed its name to Vinpearl Air and its business from real estate to aviation on May 29 after receiving approval from the Hanoi Department of Planning and Investment.
The authorized capital of VinPearl Air is VND1.3 trillion and the company has three founding partners, including VinAsia Tourism Development JSC, which holds 45% of the company's stake, entrepreneur Hoang Quoc Thuy (30%), and Pham Khac Phuong (25%).
Still, forming a company is just the beginning, as Vietnam requires prospective airlines to jump through many hoops before being allowed to accept passengers. Vinpearl Air will have to prove that it has a detailed operation and business plan, sufficient financial resources, skilled personnel, among other requirements.
The conglomerate also recently announced a partnership with Canada-based CAE Oxford Aviation Academy as part of the establishment of VinAviation School and the Vinpearl Air training center.
The VinAviation School will train pilots and technicians according to the standards of the Civil Aviation Authority of Vietnam, the US Department of Transportation’s Federal Aviation Administration, and the International Aviation Safety Assessment. The Vinpearl Air training center, on the other hand, will offer more general training for pilots, technicians, dispatch officers, flight attendants and other aviation-related professions.
