Mr. Hien's T&T Group "encroaches" on aviation, buys shares of Vietravel Airlines

ANTD.VN - On December 12, Vietravel Airlines and T&T Group signed a contract to transfer shares of Vietravel Airlines to this group. The value of the transaction and T&T's ownership ratio at Vietravel Airlines have not been announced.

Mr. Nguyen Quoc Ky, Chairman of the Board of Directors (BOD) of Vietravel Airlines, said that with the participation of a new strategic shareholder, the airline has the opportunity to increase its competitiveness, expand its flight network and improve service quality.

Thus, the current shareholder structure of Vietravel Airlines includes Vietravel Group, Vietnam Tourism and Transport Marketing Joint Stock Company (Vietravel), T&T Airlines, T&T SuperPort and BVIM Fund. In addition, there are two individual shareholders: Mr. Tran Doan The Duy and Doan Hai Dang.

According to Mr. Do Quang Hien, Executive Chairman of T&T Group, this is an important milestone for the group's businesses in the new development phase. He believes that Vietravel Airlines will be an important link in the chain of infrastructure, logistics, and aviation projects that the company is implementing.

Vietravel Airlines of businessman Nguyen Quoc Ky has just transferred part of its shares to T&T Group of Mr. Hien.

T&T Airlines Transport and Trading Joint Stock Company (T&T Airlines), Super Port Company Limited and T&T International Logistics Center (T&T SuperPort) are two member companies of T&T Group. BVIM Fund is chaired by Mr. Do Quang Vinh - son of Mr. Do Quang Hien.

The Vietravel Airlines project was approved by the Government in April 2020, with a capital of VND700 billion. By early 2021, the airline will conduct its first commercial flight. In mid-November, the airline was approved to increase its charter capital to VND1,300 billion.

After nearly 4 years of operation, Vietravel Airlines operates domestic flights connecting Hanoi and Ho Chi Minh City with localities such as Da Nang, Da Lat, Quy Nhon, Nha Trang, Phu Quoc and Hue. The airline has one international destination, Bangkok (Thailand).

Before T&T Group, after the Covid-19 pandemic until now, Vietravel's airline has repeatedly sought new investors to have more resources for development, but has not been successful. The airline's operations still face certain difficulties, with a limited fleet size of 3 aircraft.

In early April - the most recent business results announcement, Vietravel Airlines said it had its first quarterly net profit of more than 10 billion VND.

Source: https://www.anninhthudo.vn/tap-doan-tt-cua-bau-hien-lan-san-hang-khong-mua-co-phan-vietravel-airlines-post598238.antd