Malaysian low-cost carrier AirAsia and Vietnam’s Thien Minh Group on Thursday signed a memorandum of understanding (MoU) to launch a new low-cost airline in Vietnam.
Representatives of AirAsia and Thien Minh Group sign the MoU (Photo: ndh.vn)
Hanoi (VNS/VNA) - Malaysian low-cost carrier AirAsia and Vietnam’sThien Minh Group on Thursday signed a memorandum of understanding (MoU) tolaunch a new low-cost airline in Vietnam.
Under the MoU, the two sides will invest in aircraft to form a fleet for thenew airline.
According to Thien Minh Group’s CEO Tran Trong Kien, the fleet will mainlyconsist of Airbus A320s and A321s, both short- to medium-range, narrow-bodyaircraft.
AirAsia will own 30 percent of the new venture, the maximum allowed for foreignownership of an airline under Vietnamese law, though the authority isconsidering lifting the limit to 49 percent.
AirAsia expects the joints venture to focus on underserved routes connectingkey cities including Hanoi and Ho Chi Minh City, while also flying to SoutheastAsia, China, the Republic of Korea and Japan from HCM City, Hanoi and Da Nang.
"We expect to enhance our contribution to Vietnam’s aviation and increaselocals in one of the most promising markets in the region," AirAsia CEOTony Fernandes said on the news website Nikkei. — VNS/VNA
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Representatives of AirAsia and Thien Minh Group sign the MoU (Photo: ndh.vn) 
