Vietnam Airlines is Vietnam's national carrier, established in 1993. It has experienced significant growth, with its fleet expanding from 20 aircraft in 1993 to 73 aircraft in 2011. The airline has also grown its network from 14 international and 12 domestic destinations to 26 international and 20 domestic destinations. Vietnam Airlines aims to further expand its fleet to 115 aircraft by 2015 and 180 aircraft by 2020, and increase its routes to 111 and 127 destinations in those respective years. The airline seeks to become the second largest carrier in Southeast Asia by 2015.
http://www.wsj.com/articles/vietnam-airlines-raises-nearly-52-million-in-ipo-1415955368
HANOI—Vietnam Airlines Friday raised nearly 1.1 trillion dong ($52 million) in its initial public offering, though it failed to attract enough foreign investment, according to a person familiar with the deal.
The company sold all of the 49 million shares offered, representing a 3.48% stake, at an average price of 22,307 dong a share, the bourse said in a filing.
Among buyers were two corporate investors, the company said without elaborating.
A senior official with the bourse said the corporate investors are two local banks, Vietnam Technological & Commercial Joint Stock Bank and The Joint Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank.
“These two investors bought most of the shares offered, helping contribute to the success of the IPO,” the official, who didn’t want to be identified, said.
Vietnam Airlines President and Chief Executive Pham Ngoc Minh in August said the company is speaking to several potential strategic investors to sell a separate 20% stake. The company is expected to hold its first shareholders meeting in March next year, Pham Viet Thanh, the airline’s chairman, said.
The disappointing result comes as investors have been unenthusiastic about Vietnam’s privatization campaign, partly because of a lack of transparency in many state-run companies and the inordinate amount of time it takes for a company’s shares to start trading after going public.
But recently, the government has moved to speed up its reforms of state-owned enterprises, public investment and a banking system burdened by high levels of nonperforming loans in an effort to revive economic growth.
“Privatizing a state-owned company like Vietnam Airlines shows the government’s right direction in restructuring state-owned enterprises to enhance their transparency and efficiency,” Deputy Minister of Transport Nguyen Hong Truong said after the Friday IPO.
Write to Vu Trong Khanh at Trong-Khanh.Vu@dowjones.com and Nguyen Amh Thuat anhthu.nguyen@wsj.com
http://www.wsj.com/articles/vietnam-airlines-raises-nearly-52-million-in-ipo-1415955368
HANOI—Vietnam Airlines Friday raised nearly 1.1 trillion dong ($52 million) in its initial public offering, though it failed to attract enough foreign investment, according to a person familiar with the deal.
The company sold all of the 49 million shares offered, representing a 3.48% stake, at an average price of 22,307 dong a share, the bourse said in a filing.
Among buyers were two corporate investors, the company said without elaborating.
A senior official with the bourse said the corporate investors are two local banks, Vietnam Technological & Commercial Joint Stock Bank and The Joint Stock Commercial Bank for Foreign Trade of Vietnam, or Vietcombank.
“These two investors bought most of the shares offered, helping contribute to the success of the IPO,” the official, who didn’t want to be identified, said.
Vietnam Airlines President and Chief Executive Pham Ngoc Minh in August said the company is speaking to several potential strategic investors to sell a separate 20% stake. The company is expected to hold its first shareholders meeting in March next year, Pham Viet Thanh, the airline’s chairman, said.
The disappointing result comes as investors have been unenthusiastic about Vietnam’s privatization campaign, partly because of a lack of transparency in many state-run companies and the inordinate amount of time it takes for a company’s shares to start trading after going public.
But recently, the government has moved to speed up its reforms of state-owned enterprises, public investment and a banking system burdened by high levels of nonperforming loans in an effort to revive economic growth.
“Privatizing a state-owned company like Vietnam Airlines shows the government’s right direction in restructuring state-owned enterprises to enhance their transparency and efficiency,” Deputy Minister of Transport Nguyen Hong Truong said after the Friday IPO.
Write to Vu Trong Khanh at Trong-Khanh.Vu@dowjones.com and Nguyen Amh Thuat anhthu.nguyen@wsj.com
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Its running cost is among the diverse vital aspects you must consider before buying an electric scooter. Calculate the cost of getting e-scooter charge for your regular usage to calculate its economic efficiency, similar to people who investigate the mileage of petrol or diesel-driven scooters.
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6. DOMESTIC
2011
20 DESTINATIOS
Hanoi Dien Bien
Ho Chi Minh city Pleiku
Danang Tuy Hoa
Hue Chu Lai
Haiphong Quy Nhon
Buon Ma Thuot Rach Gia
Vinh Con Dao Island
Phu Quoc Island Ca Mau
Da Lat Can Tho
Nha Trang Dong Hoi
7. ASIA
2011
21 DESTINATIONS
Singapore Taipei
Kuala Lumpur Kaohsiung
Phnom Penh Seoul
Siem Reap Busan
Bangkok Tokyo
Vientian Osaka
Luang Prabang Nagoya
Yangon Fukuoka
Beijing
Kunming
Guangzhou
Shanghai
Hongkong
11. SERVICES
2011
LONG HAUL
Business
Economy Deluxe
Economy
SHORT HAUL
Business
Economy
11
12. DEVELOPMENT PLAN
DEVELOPMENT 2015 2020
Fleet 115 180
AT7, Regional jets 14 34
Narrow-body (A321) 63 73
Wide-body (B787, A350) 33 63
Freighter 5 10
Routes 111 127
International 70 81
Domestic 41 46
Destinations 65 77
International 47 56
Domestic 18 21
Skytrax Ranking
THE SECOND LARGEST AIRLINES
IN SOUTH EAST ASIA BY 2015