The Thien Minh Group (TMGroup), an integrated travel and hospitality group based in Vietnam, has filed for a license to operate a new airline, even as two more airline proposals also await the Vietnamese government’s approval to take off this year.
Local media reports said the proposal for the new airline KiteAir has been submitted to Prime Minister Nguyen Xuan Phuc for approval.
KiteAir has an investment capital of VND5.5 trillion (US$238 million). If approved, KiteAir will complete procedures to begin operation in the second quarter of this year, according to reports.
TMGroup plans to deploy six ATR72 airplanes in the first year of operation then expand its fleet to 25 planes after six years, incorporating A320/A321 aircraft.
Two other airline proposals await green light. Vietnam’s leading tour operator Vietravel is seeking approval to launch Vietravel Airlines in 2020. The country’s largest conglomerate Vingroup JSC has also applied for a license to launch an airline, Vinpearl, this year.
Last year property and leisure firm FLC Group’s Bamboo Airways started its maiden commercial flight to become the fifth Vietnamese airline.
The aviation market of Vietnam, which has a population of 96 million people, has been growing at double-digit rates, encouraging companies to compete for a slice of the market.
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