Saturday, September 08, 2007

Vietnam's Pacific Airlines considers IPO

Pacific Airlines mulls IPO, expanded aircraft fleet

Australia's Qantas bought a 30% stake in Pacific Airlines worth US$50 million valuing the newly transformed budget airline at US$167 million or 2.8 trillion dong said general director Luong Hoai Nam.

Nam said Pacific Airlines plans to list on the stock market in the near future as part of plans to raise funs to expand its aircraft fleet currently at four planes.

Next year, Pacific Airlines plans to increase he flight frequency on the Hanoi-HCM City route to nine a day, three daily flights from HCM City to Da Nang and increase flights to HCM City-Cam Ranh and Cam Ranh-Hue.

Next summer, Pacific Airlines also targets to open an international flight to neighbouring Asean. Countries.

Currently Pacific Airlines has a chartered capital of 800 billion dong.