Vietravel Airlines is set to double its charter capital to VND2.6 trillion (US$99 million) in the first half of next year, with “financial support” from SHB Bank.
Shareholders approved the plan at last week’s annual general meeting to strengthen financial capacity to expand its fleet and network, the airline said in a statement.
The airline did not clarify if SHB would be a lender or investor.
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A Vietravel Airlines aircraft. Photo courtesy of the airline |
Vietravel Airlines chairman Do Vinh Quang said the company plans to achieve robust growth and ambitious targets in the upcoming phase of development “with the backing of SHB.”
The bank’s financial strength and experience would contribute to bolstering Vietravel Airlines’ capabilities in expanding its fleet, investing in technology and improving service quality, he added.
The airline aims to build a synchronized aviation ecosystem, integrating transportation, tourism and digital experiences with the support of its parent company T&T Group and associated firm Vietravel Group.
Vietravel Airlines was established in 2020 with a capital of VND700 billion and flew for the first time in January 2021, becoming the country’s sixth carrier and the third privately-owned one.
T&T Group – a conglomerate with interests in finance, property development and construction – and its associated companies hold a 75% stake.
