Vietnam Airlines is required to urgently restructure Pacific Airlines' fleet and put the aircraft back into operation as soon as possible.
Two days ago, Pacific Airlines had to return all its aircraft to reduce its debt burden with lessors. Some of its flights had to be rescheduled or suspended.
In this situation, the Civil Aviation Authority of Vietnam requested Pacific Airlines to ensure the rights of customers who have purchased tickets according to the law. In case the flight is canceled and the customer does not need to use the service, Pacific Airlines must refund, without collecting any money.
The Authority also requested Pacific Airlines to restructure its fleet and return its aircraft to service as soon as possible. The airline must report to the Authority its restructuring plan and operational plan before March 22. The Authority also requested Pacific Airlines to return unused slots during the suspension period.
Previously, according to the announcement on March 18, this airline confirmed that it would fly again soon. Customers who have purchased tickets will be notified of new flight schedules, or transferred to Vietnam Airlines flights.
The low-cost airline will lease aircraft from its parent company, Vietnam Airlines, to optimize its resources. Most likely, the airline will receive 3 aircraft from Vietnam Airlines. This is also the minimum requirement for an airline to maintain its Aircraft Operator Certificate (AOC).
Pacific Airlines, founded in 1991, is the first joint-stock airline in Vietnam. This low-cost airline has been struggling for many years. In 2018-2019, the airline made a profit of tens of billions of VND, but then returned to losses due to the impact of Covid-19. In 2022, the airline lost nearly 2,100 billion VND, down more than 210 billion compared to the previous year.
After receiving all shares from Qantas shareholders in 2022, Vietnam Airlines owns over 98.8% of Pacific Airlines. Since then, the national airline has been looking for new investors for this low-cost airline and has also attracted interest from several parties. However, divestment from Pacific Airlines has not been possible due to some regulations and the unfavorable aviation market in the past few years.
Anh Tu
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