Tourism company Vietravel plans to sell its entire 14.1% stake in Vietravel Airlines this year, but has not revealed the identity of the investor.
It said in a statement Tuesday it is seeking to sell all 18.4 million shares before the end of the year.
Vietravel Airlines was set up in 2020 with a registered capital of VND700 billion (US$26.5 million), and its first commercial flight was in early 2021, when it became Vietnam’s sixth airline and the third privately owned one.
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A Vietravel Airlines aircraft seen at an airport. Photo courtesy of Vietravel Airlines |
It is now 75% owned by businesses controlled by tycoon Do Quang Hien, founder and chairman of conglomerate T&T Group.
He acquired the stake in the carrier late last year and a few months later his son Do Vinh Quang was appointed chairman.
Vietravel Airlines has since expanded its fleet and increased its charter capital to VND2.6 trillion. It operates primarily on the Hanoi–Da Nang–Ho Chi Minh City routes and some tourist destinations like Phu Quoc and Nha Trang.
It aims to increase its fleet to at least 10 aircraft by the end of this year, and is actively negotiating with aircraft manufacturers and international airlines.
