ex. Game, Music, Video, Photography

Vietravel plans $30 mln bond issuance to fund airline

Vietravel has sought shareholder approval for issuing VND700 billion ($30.2 million) worth of bonds to fund its proposed airline.

Ngày đăng: 14 tháng 9, 2021
Cập nhật: 23 tháng 12, 2022
Lượt xem: 310136612
Nguồn: vnexpress

The bonds will be non-convertible, have a two-year tenor and a coupon rate of no more than 11 percent.

The leading Vietnamese tour company said in April that it had applied for a license to launch Vietravel Airlines, a wholly-owned subsidiary.

Vietravel also sought shareholder approval to scrap a previous plan for issuing 80,000 non-convertible bonds worth VND1 million ($43.13) each approved in April. The issue, planned in the third quarter of this year, would have fetched VND80 billion ($3.45 million) if fully sold. The 30-month bonds were meant to supplement working capital.

Vietravel Airlines was established in Thua Thien – Hue Province in February with a charter capital of VND700 billion ($30.2 million).

Its chairman and CEO, Nguyen Quoc Ky, said that global travel companies are now tending to operate their own aircraft. "They are completing their ecosystem, and [Vietravel] needs to do the same to step out into the world."

Vietravel already organizes charter flights with partners. In the last two years it has been operating around 300 flights a year, both domestic and international.

In Vietnam, a company needs to have a charter capital of at least VND700 billion ($30.2 million) if it operates 10 aircraft, VND1 trillion ($43.13 million) in case of 11-30 aircraft and VND1.3 trillion ($56.07 million) for over 30 aircraft.

The market now has Vietnam Airlines, budget carriers Vietjet Air and Jetstar Pacific, the Vietnam Air Services Company or VASCO, Bamboo Airways, and newly-licensed Vietstar Airlines, a military-run company. Last year they served some 50 million passengers, up 10.1 percent from 2017.

Thien Minh and Vietravel Airlines are companies vying to be the seventh.

On Monday the Vietnam Civil Aviation Authority issued an aircraft operator certificate to Vietstar Airlines, allowing it to use two types of aircraft, Embraer Legacy 600 and Beechcraft King Air B300.

Last year, Vietnam’s 21 state-run airports served 103.5 million passengers, up 11 percent year-on-year, and the figure is set to rise to 112 million this year, according to the Airports Corporation of Vietnam.

The number of visitors travelling by air in Vietnam is estimated to grow 17.4 percent in the 2016-2021 period, the fastest in Southeast Asia where average growth is estimated at 6 percent, according to the World Bank.


Từ vựng liên quan

Tin tức liên quan

Wet markets dominate, but convenience stores inch up
business 18/09/2021

Wet markets dominate, but convenience stores inch up

data-speaks | 324376607

While traditional markets still dominate Vietnamese shopping, convenience stores are becoming more popular.

Popular destinations bar tourists in anti-coronavirus drive
travel 20/09/2021

Popular destinations bar tourists in anti-coronavirus drive

places | 328576618

Vietnam’s list of tourism hotspots refusing visitors is expanding as the country's Covid-19 epidemic has intensified since last Friday.

 British royal family releases first official photographs of Prince Louis
world 17/08/2021

British royal family releases first official photographs of Prince Louis

world | 233336630

Louis is fifth in line to the British throne.

When a woman of ethnic minority says to "vote wisely"
news 13/09/2021

When a woman of ethnic minority says to "vote wisely"

news | 304966624

One day, Tieu, a Giay ethnic minority woman, stepped out of her house to visit a neighbor without asking for her husband’s permission, her husband threatened to abandon her.

 Vietnam remains "highly peaceful" despite disputed waters
news 27/03/2021

Vietnam remains "highly peaceful" despite disputed waters

news | 107986641

The 2016 Global Peace Index (GPI) recently ranked Vietnam 59th out of 163 independent states and territories.

First Covid-19 vaccine doses arrive in Vietnam
news 18/09/2021

First Covid-19 vaccine doses arrive in Vietnam

news | 325166615

The first batch of 117,600 doses of Oxford/AstraZeneca's Covid-19 vaccine arrived in HCMC's Tan Son Nhat Airport on Wednesday morning.

 Japanese contractor may stop work on Saigon metro line
news 01/05/2021

Japanese contractor may stop work on Saigon metro line

news | 195816642

HCMC’s first metro line has run into another crisis. An unpaid Japanese contractor has threatened to stop work.

 US gaming company acquires Vietnamese esports team
sports 14/05/2021

US gaming company acquires Vietnamese esports team

sports | 207236630

League of Legends (LoL) national champions GAM Esports have been bought by U.S. pro gaming and entertainment company NRG.

 27 die in Channel
world 25/11/2021

27 die in Channel's deadliest migrant boat tragedy

world | 355876620

At least 27 migrants trying to reach England from France died on Wednesday when their boat sank off the northern French coast, the deadliest disaster since the Channel became a hub for clandestine crossings.

22 more people arrested for investigation into vandalism in SEZ law protest
news 22/09/2021

22 more people arrested for investigation into vandalism in SEZ law protest

news | 332646602

Some of the accused told the police they’d been given money to participate in the protests.

Link Tài Trợ - Sponsored Links

Công Thức Vật Lý
Loading…