Vietnam Airlines to invest $430 mln to offer ground services at Long Thanh airport

Vietnam Airlines plans to invest VND9.9 trillion ($430 million) in the under-construction Long Thanh International Airport to become a provider of ground services and in-flight meals.

Vietnam Airlines, Long Thanh International Airport

It plans to provide aircraft maintenance services, supply jet fuel and meals, serve passengers in lounges, and set up duty-free shops, the carrier said in a proposal to authorities.

These are services the state-owned carrier already provides at major airports in the country.

It will bring in 30 percent of the amount from its own resources and borrow the rest.

Its subsidiaries can either set up facilities at the airport or joint ventures with the Airports Corporation of Vietnam (ACV), which oversees the construction and would operate the airport, the proposal said.

It hopes to get a dedicated area at the airport to build hangars for aircraft maintenance and in the terminal to prioritize its customers.

Construction of the first of three phases of Long Thanh International Airport in the southern province of Dong Nai, 40 kilometers east of Ho Chi Minh City, began in January.

The $4.6-billion first phase of the airport is set to be completed by 2025 when it will be able to handle 25 million passengers and 1.2 million tons of cargo a year.

The final phase will be completed by 2040, when the airport will have four runways and four passenger terminals. It will have a capacity of 100 million passengers and five million tons of cargo.

News Related


Vietnam, Colombia seek stronger economic and trade ties

Colombia is viewed as a potential market and ranks fifth among the largest Vietnamese export markets in Latin America, with two-way trade turnover increasing from US$42.95 million in 2007 to US$509 million in… Read more »

High-tech poultry incubation factory inaugurated in Tay Ninh

At the event ( NDO – Bel Ga Joint Stock Company organised a ceremony on April 17 to inaugurate the Bel Ga Tay Ninh high-tech poultry incubation factory at Thanh Thanh Cong Industrial… Read more »

Vietnamese businesses look to further optimise opportunities from CPTPP

Illustrative image (Photo: VNA) Hanoi (VNA) – After two years of implementing the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), the use of the deal to generate benefits for the economy and… Read more »

Services sector expected to expand by 7-8 percent this decade

Vietnam’s services sector targeting a growth rate of 7-8 percent in the 2021-2030 period (Photo: Internet) Hanoi (VNA) – Vietnam’s services sector is targeting a growth rate of 7-8 percent in the 2021-2030… Read more »

Small investors continue inundating markets

Illustrative photo. Increase in new accounts During the second half of 2020, the stock market in Vietnam was overwhelmed with a huge number of individual investors showing an unprecedented boom in the market,… Read more »

Farmers struggle as shallots devalue to record low

There are more than 51,000 tons of unsalable shallots in Vinh Chau Town of Soc Trang Province. (Photo: SGGP) Mr. Ngo Hung, Secretary of the Party Committee of Vinh Chau Town of Soc… Read more »

Vietnam applauds positive adjustment in US Treasury Department’s report

Illustrative image (Photo: VNA) Hanoi (VNA) – Vietnam welcomes the US Department of the Treasury’s positive adjustment to the content related to Vietnam in the department’s latest report on the macroeconomic and foreign… Read more »

VinFast hikes charter capital by 37 pct

Vietnam’s first fully-fledged carmaker hiked its capital by a total of VND11.38 trillion on three occasions in the first three months, according to the National Business Registration Portal. This makes VinFast the largest… Read more »

Vingroup to build second auto plant in Vietnam

A Ha Tinh official said Friday authorities had received the proposal Tuesday and would meet with the company to discuss opportunities soon. Vinhomes, the real estate arm of Vingroup, wants to build a… Read more »

Citigroup to exit consumer banking in Vietnam

The move is part of the bank’s strategic decision to direct investments and resources to businesses with the greatest scale and growth potential, it stated, adding its main markets will include Singapore, Hong… Read more »

Hoa Sen reports 217 pct increase in profits

A view of the Hoa Sen steel plant . Photo by VnExpress/Thuy Dung. Its revenues were worth VND4.5 trillion, a 42 percent rise from the previous month. It attributed the increase in profits… Read more »

VNG reports 57 pct fall in profits

VNG Campus in HCMC’s District 7. Photo courtesy of VNG. Its revenues were however 16.3 percent up at VND6 trillion. It attributed the fall in profit to the VND670 billion loss of its… Read more »

Restaurant chain operator Golden Gate’s profit plummets

It posted VND4.5 trillion in revenue, down 5 percent year-on-year, according to its financial statement. Golden Gate attributed the plunge in profits to the Covid-19 pandemic, which forced the company to temporarily close… Read more »

First Vietnamese businesswoman awarded prestigious French honor

The order was awarded to Thao for her contributions to promoting ties between Vietnam and France. Thao, 51, received the order from French Ambassador to Vietnam, Nicolas Warnery, at a ceremony organized in… Read more »

​BKAV says working on 5G smartphones

Nguyen Tu Quang said 5G smartphones have become a trend, and so BKAV would make them to stay competitive in the market. It is experts’ view that smartphones would help popularize 5G technology… Read more »

​Bamboo Airways plans US IPO in Q3

The IPO is expected to take place in the third quarter, with the company likely to offer a 5-7 percent stake to secure a market capitalization of up to $4 billion, Reuters quoted… Read more »

​New Vietnam-US container shipping service launched

The container ship MP THE BELICHICK berthed at the SP-SSA International Terminal in the southern province of Ba Ria- Vung Tau, April 13. Photo courtesy of SP-SSA International Terminal. The SP-SSA International Terminal… Read more »

Hoa Phat group to start first container plant construction

Provincial authorities have granted a business certificate for the Hoa Phat Container Production Jsc with a charter capital of VND3 trillion ($130 million), the company said in a statement. The plant, when completed,… Read more »

Grab set to announce deal with US SPAC at $40 billion valuation: sources

The merger will make it the biggest blank-check company deal ever. Southeast Asia’s largest ride-hailing and food delivery firm Grab’s agreement with a special purpose acquisition company (SPAC) backed by Altimeter Capital includes… Read more »

ABBank seeks to hike capital through rights issuances of shares

There will be two issuances, one each in the second and third quarters of this year, the Hanoi-based lender said in a plan it outlined to shareholders. The bank, established in 1993, plans… Read more »

Vingroup sole Vietnam rep among world's top 750 family businesses

The conglomerate, which has a 62.1 percent family shareholding, generated revenues of $5.6 billion in 2019 and employed 51,100 employees, according to the latest report from Family Capital, a U.K.-based online publishing company… Read more »

Vietnam's richest man could become a top 50 billionaire

The initial public offering of conglomerate Vingroup’s unit VinFast in the U.S., expected to occur in this or next quarter as reported by Bloomberg and Reuters, could increase Vingroup chairman Vuong’s net worth… Read more »

FLC targets 163 pct profit growth

FLC Grand Hotel Quy Nhon in the central province of Binh Dinh. Photo by VnExpress/Tuan Ho. At its annual general meeting Monday, the private conglomerate, which has interests ranging from property development to… Read more »

Vingroup eyes $2 bln from VinFast IPO in US

The IPO could take place as soon as this quarter, and could raise up to $3 billion, Bloomberg reported, citing sources. An issue worth $2 billion will make the IPO the biggest ever… Read more »

Kumho Tire eyes expansion of Vietnam plant

Kumho Tire Plant in My Phuoc 3 Industrial Park in the southern province of Binh Duong. Photo courtesy of Kumho Tire. The expansion, when completed in the first quarter of 2023, is expected… Read more »

Hanoi Beer producer profits to slump to 10-year low

The Hanoi Beer Alcohol and Beverage Jsc forecasts post-tax profits of VND255 billion ($11 million), down 59 percent from 2020. Habeco said in a report that tourism companies, hotels and restaurants continue to… Read more »

Samsung Engineering wants to build water treatment plant in Binh Dinh

Nui Mot Lake in An Nhon Town the central province of Binh Dinh. Photo by VnExpress/Hien Trang. At a meeting with the committee, it said it was interested in building the plant to… Read more »

Thailand’s top coffee chain to expand in Vietnam

A spokesperson said recently the chain sees long-term potential in Vietnam and will expand in Ho Chi Minh City and neighboring provinces this year, but did not reveal specific figures. The chain opened… Read more »

Dragon Capital raises stake in Hoa Phat Group

It bought them on the market on April 6 when HPG was trading at around VND49,400, which puts the value of the deal at around VND59 billion ($2.56 million). The Vietnam-focused Dragon Capital… Read more »

Businesses begin recruitment race post-pandemic

Workers at a textile and garment company in Tan Do Industrial Park in the southern province of Long An. Photo by VnExpress/Quynh Tran. Nidec Servo Vietnam Corporation, an electronic components manufacturer in HCMC’s… Read more »

LG’s Hai Phong smartphone factory for sale

A Business Korea report says the South Korean electronics giant has decided to terminate its loss-making mobile phone production and sales business and is taking steps to close down production plants. However, it… Read more »

Pandemic challenged FPT to do ‘more with less:’ chairman

He said at the FPT annual general meeting Thursday that as businesses faced financial difficulties because of the pandemic last year, they had to “do more with less,” and this created opportunities for… Read more »

SpaceX satellite Internet faces regulatory hurdles in Vietnam

SpaceX headquarter in Hawthorne, California, the U.S. Photo by Shutterstock/Sundry Photography. SpaceX, owned by South African-American billionaire Elon Musk, recently announced that Starlink, now in its beta testing phase, would be launched in… Read more »

Eximbank seeks to pay dividends after 7 years

An Eximbank branch in Ho Chi Minh City. Photo by VnExpress/Thanh Di. The bank sold its bad debts to the state-owned Vietnam Asset Management Company (VAMC) in 2015 against bonds on the condition… Read more »

​HDBank profit up 87 pct

An HDBank branch in Ho Chi Minh City. Photo courtesy of HDBank. Its outstanding loans at the end of the quarter was VND198 trillion, up 5 percent from the end of last year.… Read more »

Bamboo Airways warned for overselling tickets

Each airline has an allocated number of flight slots, meaning a specific period of time wherein an aircraft can take off or land at an airport depending on the latter’s capacity, but Bamboo… Read more »

Lender ACB profits skyrocket

Its credit growth was 4 percent. CEO Do Minh Toan said: “[While] the results in the first quarter were fine, the bank’s growth in the next nine months remains uncertain since the pandemic… Read more »

Indian motorcycle maker Royal Enfield suspends business in Vietnam

Al Naboodah International, the official distributor of the brand, said the decision was made since business results did not meet expectations. It said since Royal Enfield vehicles are imported from India they do… Read more »

​South Korea’s SK Group buys 16.26 pct stake in VinCommerce

Woncheol Park, representative director of SK South East Asia Investment, said his company has great belief in the potential of Vietnam’s online and offline retail sector and expects VinCommerce to play a vital… Read more »

Vingroup reports acquisition, sale of multiple companies

It sold 80 percent each of MV Real Estate JSC and the MV1 Real Estate JSC to Mitsubishi Corporation and Nomura Real Estate Development of Japan, and 90 percent of S-Vin Vietnam Real… Read more »

Indian motorcycle maker Royal Enfield bids goodbye to Vietnam

Al Naboodah International, the official distributor of the brand, said the decision was made since business results did not meet expectations. It said since Royal Enfield vehicles are imported from India they do… Read more »

Techcombank expects 25 pct profit growth

It expects credit to grow by 12 percent. Profits rose by 23 percent last year to VND15.8 trillion. It has undistributed profits of VND26.7 trillion, which it plans to use to fund operations.… Read more »

Mekong Capital invests in chocolate maker Marou

Marou’s chocolate bars. Photo by Shutterstock/EQRoy. It has invested an undisclosed sum in chocolate crafter Marou, one of the first bean-to-bar artisanal chocolate makers in Asia and among the few in the world… Read more »

Vietjet Air resumes commercial flights to Northeast, Southeast Asia

Flights from HCMC to Thailand’s Bangkok will depart every Friday, while there will be 13 flights connecting Hanoi and Japan’s Tokyo this month, with the first scheduled to take off on April 6,… Read more »

VinMart to become WinMart

The rebranding would take place after restructuring of the retail chain is complete, Truong Cong Thang, CEO of The CrownX, a subsidiary that operates VinMart, said at the Masan annual general meeting Thursday.… Read more »

Hong Kong firm invests $498-mln in Vietnam solar cell plant

This is the first investment project to be granted a license in the Quang Yen coastal economic zone since the government decided to establish the area last year. Work on the plant covering… Read more »

Apple to accredit independent repair shops in Vietnam

In a blogpost Monday, the company said it would open registrations for the program later this week for Vietnam and 37 other marrkets including Australia, South Korea and the UAE. In other countries… Read more »

Vingroup to sell 5 percent stake in garment producer Vinatex

A Vinatex Fashion Center showroom in Hoan Kiem District, Hanoi. Photo courtesy of Vinatex. The company’s share price is around VND17,700 (US$0.76), and the sale of 25 million shares is expected to fetch… Read more »

Vietnam Airlines to resume commercial flights to Asian destinations this week

The national flag carrier said flights from Hanoi to South Korea’s Incheon City will depart every Thursday while there will have seven flights from Hanoi to Japan’s Narita City in April, with the… Read more »

Masan chairman defends VinMart purchase

The decision to purchase Vingroup’s subsidiary VinCommerce, which operates the VinMart grocery chain, had been met with opposition, even from investors who had trusted most in Masan, he said. Quang acknowledged in the… Read more »