Vietnam airline business

The logo of Pacific Airlines is stylised from three wings of the aircraft with a layout arranged in larger sizes, a metaphor for its development efforts for nearly 30 years. With the message 'Joy to take off', Pacific Airlines promises every flight is a joy. … [Read more...] about Pacific Airlines launches flight attendant uniform and new brand identity

FTSE has placed Vietnam under review for an upgrade to secondary emerging market status, while MSCI has not yet placed it on its watch list for upgrades. The earliest Vietnam could be placed on MSCI’s watch list for upgrades is mid-2021 and then it could be upgraded to EM status a year later. MSCI had cited the presence of foreign ownership limits, a lack of some disclosures in English, the lack of an offshore currency market and limitations in onshore currency markets, mandatory registration of accounts, prefunding of trades and restrictions on off market transfers. … [Read more...] about Vietnam economic outlook remains positive despite Covid-19 resurgence: HSBC

To support its cash flow, Vietjet has proactively sought partners and implemented many financial solutions such as asset transfer and financial investment, which resulted in a financial revenue of 1.174 trillion VND (approx. 50.4 million USD) with a post-tax consolidated profit of 1.063 trillion VND (approx. 45.6 million USD) in Q2, and consolidated profit of 73 billion VND (approx. 3.2 million USD) in the first half, increasing financial resource for the airline’s air transport business. These results were achieved thanks to the solid financial base, which the company has accumulated for the past years. … [Read more...] about Vietjet reports loss of over VND2.1 trillion for H1

Hanoi (VNA) - The Ministry of Finance (MoF) has proposed to cut environmental protection tax on jet fuel by 30 percent, from 3,000 VND to 2,100 VND per litre. The reduction is expected to help remove difficulties for the aviation industry due to the serious impact of the COVID-19 pandemic. The ministry is collecting ideas and contributions from ministries and sectors to  the National Assembly Standing Committee’s draft resolution on environmental protection tax on jet fuel. The ministry calculated that with such a reduction, the State budget revenue will decrease 87.33 billion VND (3.75 million USD) per month. However, the cut will help air transport businesses ease the financial burden and maintain business operations as the COVID-19 pandemic is still serious and unpredictable worldwide. The finance ministry asked ministries, sectors, localities and agencies to send their comments before June 10, 2020. This resolution is expected to be effective until the end of this … [Read more...] about MoF proposes 30-percent reduction to environmental protection tax on jet fuel

Apart from the effort of the airline itself, the support of the government has also helped reduce the pressure and boost the aviation sector’s recovery. Following airlines’ proposal, the Government and industry authorities has considered support packages, including exemption of taxes, fees, aviation services, environmental tax exemptions for flight fuels, financial support, and extension of payment term./. … [Read more...] about Vietjet reports loss of over 2.1 trillion VND for H1