Aviation industry

"The shortfall in cash flow and large overdue debts pose the possibilities of insolvency and termination of operations," the carrier said, adding that it is seeking investors to restructure Pacific. In 2018 and 2019, the airlines was on course to recover with profits of VND34.3 billion ($1.48 million) and VND48.6 billion against losses of VND346 billion and VND907 billion the previous two years. Its revenues peaked at VND8-9 trillion during the period. It posted profits of VND150 billion in January 2020, a monthly record, before Covid-19 hit the aviation industry. "If it weren’t for Covid-19, we would have made a big profit," its chairman and Vietnam Airlines’ deputy director, Trinh Hong Quang, had said in mid-2020. That year the budget carrier ended up with a record loss of VND2.14 trillion as revenues plummeted to VND2.6 trillion, a fourth of the previous year’s figure. At the end of 2020 it had total assets of over VND6.6 trillion, but its equity had eroded and was … [Read more...] about Covid causes more turbulence for Pacific Airlines

The national flag carrier Vietnam Airlines reopened flights to Terminal 4 at London Heathrow Airport (LHR) on June 22. Crewmembers of Vietnam Airlines Flight VN56 Đội before departing from London to Hanoi (Photo: VNA) Nearly 270 passengers on flight VN56 departing from London to Hanoi received support and guidance from Vietnam Airlines staff for boarding procedures at Terminal 4. Following the gradual recovery of the global aviation industry, Vietnam Airlines is fully prepared to meet the growing demand from international markets which will substantially contribute to the country's post pandemic economy growth, the firm said. Starting from July 5, Vietnam Airlines will operate three flights per week on the London-Hanoi route every Tuesday, Wednesday and Saturday. From August 11 to October 29, the airline will operate flights from London to Hanoi every Tuesday and Thursday and services from London to Ho Chi Minh City will resume on Saturdays, … [Read more...] about Vietnam Airlines returns to Terminal T4 at London Heathrow Airport

Korean passengers are received warmly welcome by Da Nang's authorities. Korean Air has resumed post-COVID-19 service from Incheon, Korea, to Da Nang. — VNS Photo Le Lam Korean Air has resumed service from Incheon, Korea, to Da Nang after a two-year closure due, by operating two chartered flights per week between the two cities. Representative of Korean Air, Chung Eui Seock, said the airline restarted the post-COVID-19 air route by chartered flight before operating regular daily services to Da Nang from the end of July. He said Da Nang was seen as a favourite destination by Korean tourists, and the airline would work with its top capacity to offer five-star flights between Da Nang and Incheon. The flight will take off from Incheon, Korea, at 6.40pm (Korean time) and land at Da Nang Airport around 9.25pm, while departing from Da Nang at 10.50pm and arriving in Incheon at 5.30am next morning on Wednesdays and Saturdays. The airline, seen as the first Korean air service linking … [Read more...] about Korea-Da Nang air routes to re-ignite tourist boom

VASEP proposed practical solutions to decrease logistics cost in the near future Chairman of Vietnam Tourism Association Vu The Binh stated that to promote the recovery of this industry in the near future, there must be new interesting tour packages to attract international tourists, along with favorable conditions to welcome them to Vietnam. He proposed a working session between the tourism and aviation industries to introduce the most reasonable prices for these new packages. Deputy General Secretary of Vietnam Association of Seafood Exporters and Producers Nguyen Hoai Nam shared that the high fuel prices have created pressure on many businesses, and many fishermen have stopped their work. He suggested some solutions to reduce logistics cost, including digital transformation among member businesses, which was wholeheartedly welcomed by Minister Dung with the promise to support any needy enterprises in order to increase their competitiveness. Vice Chairwoman of Vietnam … [Read more...] about Vietnam collecting feasible solutions to boost production, trading, investment

Ha Nam Textile Company in Phu Ly, Ha Nam. Enterprises are encountering a number of difficulties after the COVID-19 pandemic and needed support to promote business and production recovery. — VNA/VNS Photo Tran Viet The Ministry of Planning and Investment will propose policies to remove obstacles for enterprises and enable them to seize opportunities to accelerate production and business, Minister Nguyen Chi Dung said. Dung promised at a meeting on Monday to listen to the difficulties of enterprises and raise solutions for the second half of this year, saying it was important to identify advantages and opportunities, as well as challenges, to raise policies to support enterprises and enable them to participate and not miss any chances. Enterprises are encountering a number of difficulties after the COVID-19 pandemic which has heavily socio-economic activities hard during the past two years. Labour shortages are one of the most common challenges facing industries. According to … [Read more...] about Ministry listens to firms’ difficulties, pledges to raise support

In late March, Japan’s Sumitomo Corporation and local BRG Group worked with Danang’s leaders to discuss projects both groups want to deploy in the city. In 2020, Chairman of Danang People’s Committee Le Trung Chinh handed over MoUs on investment cooperation to Sumitomo Corporation and BRG Group to promote investment in a wide range of urban and infrastructure development projects in Danang. According to BRG chairwoman Nguyen Thi Nga, Danang has the full potential for a leading global player like Sumitomo to weigh over opportunities for investment and business expansion. “The board of directors at Sumitomo is solid with their investment orientation in Danang as they have sent several working groups to the city to shape an iconic regional-level project in Danang,” said Nga. Beyond Japanese groups, international investors from various other countries have expressed the desire to make forays into Danang. In a meeting with the city’s management at the end of April, Park In Sung, … [Read more...] about Danang becoming focal point in Central Vietnam investment

Danang is now ripe for 5-star hospitality success The 16th edition of the Asian Route Development Forum (Routes Asia 2022) was held in Danang on June 6 for the first time. Routes Asia brings together policymakers from the world’s leading airlines, airports, destinations and aviation suppliers, and this time around the event wants to realise action plans and accelerate Asia-Pacific economic recovery. “We see this as a significant opportunity to exchange information and seek partnership, as well as to invest in the development of aviation, tourism, and logistics,” Chairman of Danang People’s Committee Le Trung Chinh stated at the event. “This is also an opportunity for the city to showcase our natural beauty, people, and socioeconomic achievements and the tourist industry in particular, to investors and visitors from across the world.” According to research by Savills World Research last year, the coastal city is one of the leading destinations for major international brands in … [Read more...] about Second-home market blossoms in Danang

Minister of Transport Nguyen Van The speaks at the conference. (Photo baochinhphu.vn) Hanoi (VNS/VNA) - Minister of Transport Nguyen Van The has confirmed that around 86 trillion VND from the State budget will be invested in developing an expressway system for the Mekong Delta region. He made the statement while presenting a plan on transport infrastructure development investment for the Mekong Delta region at the Conference on Promulgation of the Mekong Delta Regional Master Plan and Investment Promotion for the 2021-30 Period, which opened on June 21 in Can Tho City. The whole region at present has only 90km of expressways, in addition to another 30km under construction. During this term, investment in an additional 400km of expressway in the region will be carried out, including the construction of a main axis connecting Ho Chi Minh City with Mekong Delta's Can Tho City and connecting Can Tho City with southernmost Ca Mau province, according to the minister. … [Read more...] about 86 trillion VND earmarked for transport infrastructure in Mekong Delta

Australian foreign minister Penny Wong is welcomed by her Vietnamese counterpart Bùi Thanh Sơn on Monday. — VNA/VNS Photo Lâm Khánh HÀ NỘI — Vietnamese foreign minister Bùi Thanh Sơn on Monday welcomed his Australian counterpart Penny Wong on her official visit to Việt Nam. Việt Nam is the first Southeast Asian country Wong paid a visit to after assuming the Australian Minister of Foreign Affairs position. Congratulating Australia on its success in the federal election and COVID-19 vaccination campaign, Minister Sơn believes that Wong’s visit will further promote the strategic partnership between the two countries. Việt Nam and Australia will soon commemorate the 50th anniversary of the establishment of their diplomatic relations in 2023. The Vietnamese foreign minister also expressed his gratitude to the Australian government for their prompt support in providing COVID-19 vaccines and medical equipment for Việt Nam, particularly the 14.4 million doses for children, which … [Read more...] about Concrete actions are important to shared prosperity: Australian foreign minister