It is still unclear whether T&T Group will change the name of this young airline after taking full control with 75% ownership of Vietravel Airlines.
It is still unclear whether T&T Group will change the name of this young airline after taking full control with 75% ownership of Vietravel Airlines.
Lightning fast deal
After much speculation, last weekend, both T&T Group Joint Stock Company and Vietravel Group Joint Stock Company announced the transfer of shares in Vietnam Airlines Joint Stock Company (Vietravel Airlines) between Vietravel Group and T&T Aviation Transport and Trading Joint Stock Company (T&T Airlines), T&T Super Port and International Logistics Center Company Limited (T&T SuperPort), and BVIM Fund Management Joint Stock Company.
Thus, the list of shareholders of Vietravel Airlines as of December 12, 2024 includes Vietravel Group; Vietnam Tourism and Transport Marketing Joint Stock Company - Vietravel; T&T Airlines, T&T SuperPort, BVIM Fund and 2 individual shareholders, Mr. Tran Doan The Duy and Mr. Doan Hai Dang.
It should be added that T&T Airlines, T&T SuperPort and BVIM Fund are all units in the T&T Group ecosystem.
Vietravel Airlines officially operated its first commercial flight on January 25, 2021.
Vietravel Airlines is operating 2 A321s and 1 A320 on some domestic regular routes and international charter flights.
Although there is much information that T&T Group has acquired up to 75% of the capital at Vietravel Airlines, in the announcement issued on December 12, the related units did not announce the transfer value or the percentage of shares held by shareholders at Vietravel Airlines after this unexpected transfer deal.
However, according to current regulations, changing shareholders or investors in airlines will require reissuing air transport business licenses. Therefore, the unknown factor related to the holding ratio of new shareholders of T&T Group will be "decoded" in the application for reissuing air transport business licenses sent to the Civil Aviation Authority of Vietnam by Vietravel Airlines.
Previously, in the Air Transport Business License No. 01/2024/GPKDVCHK re-issued by the Ministry of Transport on November 8, 2024, Vietravel Airlines had a charter capital of VND 1,300 billion, including 4 shareholders who are domestic legal entities: Vietravel Group (holding 85.8% of charter capital); Vietravel Company (holding 13.7% of charter capital); Mr. Tran Doan The Duy (holding 0.25%) of charter capital and Mr. Doan Hai Dang (holding 0.25% of charter capital).
The company has two legal representatives (both Vietnamese nationals), Mr. Nguyen Quoc Ky, Chairman of the Board of Directors and Mr. Dao Duc Vu, General Director of Vietravel Airlines.
This shows that the M&A deal with Vietravel Airlines will certainly only start after the travel airline submits a request for re-issuance of its air transport business license to the Civil Aviation Authority of Vietnam at the end of September 2024. In this request, Vietravel Airlines does not mention the presence of the T&T Group shareholder group.
“Even if the deal starts in late September 2024, in less than three months, it is one of the fastest M&A deals in the aviation sector,” an expert said.
Perfecting the logistics ecosystem
T&T Group's decision to carry out the M&A deal with Vietravel Airlines is considered to be an arrow hitting many targets for Mr. Do Quang Hien, Executive Chairman of T&T Group.
Firstly, this helps T&T Group quickly own an airline, instead of going through complicated and lengthy procedures to apply for an air transport business license.
Second, although it is facing some financial difficulties, "reviving" Vietravel Airlines is still considered much more favorable than investing in other airlines.
According to Mr. Do Quang Hien, Vietravel Airlines will become an important link in the chain of infrastructure - logistics - aviation projects that have been and are being implemented by T&T Group.
Together with Quang Ninh Port, Quang Tri Airport, Vietnam's logistics "super port" SuperPort in Vinh Phuc, Nam Phuc Tho Industrial Cluster, Aviation - Logistics - Service - Trade - Airport Urban Complex in Quang Tri and now the important piece - Vietravel Airlines, T&T Group is contributing to promoting the development of multimodal transport and creating new breakthroughs for Vietnam's logistics industry.
“The synchronous infrastructure - logistics - aviation industry ecosystem of T&T Group will create a driving force to attract large domestic and foreign investors and enterprises to focus on production and business,” Mr. Do Quang Hien emphasized.
On the other hand, having a strong group of shareholders like T&T Group participating in Vietravel Airlines will help Vietravel Group reduce the financial burden to maintain the airline.
Mr. Nguyen Quoc Ky, Chairman of the Board of Directors of Vietravel Group and Chairman of the Board of Directors of Vietravel Airlines, said that the participation of three strategic shareholders, T&T Airlines, T&T SuperPort and BVIM Fund, will open up new opportunities for Vietravel.
Airlines to enhance competitiveness, expand flight network and improve service quality.
This not only contributes to meeting the increasing travel needs of passengers, but also affirms the position of Vietravel Airlines - the first tourism airline in Vietnam in the domestic and international aviation market.
“The transfer of these shares is also an important step in realizing the investment and development plan of Vietravel Airlines. With the support of new shareholders, we believe in the bright and sustainable future of Vietravel Airlines in the coming time,” Mr. Nguyen Quoc Ky affirmed.
Source: https://baodautu.vn/an-so-tai-thuong-vu-ma-vietravel-airlines-d232510.html
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