The Vietnamese flag-carrier, Vietnam Airlines, and the Australian flag-carrier, Qantas, on February 21st announced an agreement on the cooperation to jointly develop Jetstar Pacific Airlines.

Earlier, the Prime Minister had decided that the State Capital and Investment Corporation (SCIC) should transfer all of its share in the low-fare carrier of Jetstar Pacific Airlines to Vietnam Airlines.

Accordingly, Vietnam Airlines from now on will hold some 70 per cent of the share portfolio in the low-fare carrier.

Also yesterday, Jetstar Pacific held a general meeting of its shareholders to decide future development strategies and discuss necessary measures to help it grow sustainably.

According to some major shareholders, the carrier will be funded with AU$25million to update and increase its aircraft fleet in mid-2012.

In a news release, the General Director of Vietnam Airlines, Pham Ngoc Minh, hoped that the new plan would generate more vitality for Jetstar Pacific and would bring more benefits for its travellers as well as promote the development of Vietnam’s aviation in general.   

Source: TBKT

Translated by Thu Nguyen