Prime Minister Nguyen Tan Dung has signed a decision stipulating that no commercial airline can be formed unless it has a minimum capital of 300 billion VND (14.4 million USD).
The threshold applies to airlines which have less than ten aircraft and operate solely domestic flights, the Nhan dan (People’s) Online quoted the decision as saying.
The minimum capital will increase to 700 billion VND (33.6 million USD) if a new carrier wants to fly international routes.
The decision also states that the licence of an airline will be revoked after 18 months from the date it was granted if the carrier does not start flying during that period.
The decision will take effect on June 1.-VNA
The threshold applies to airlines which have less than ten aircraft and operate solely domestic flights, the Nhan dan (People’s) Online quoted the decision as saying.
The minimum capital will increase to 700 billion VND (33.6 million USD) if a new carrier wants to fly international routes.
The decision also states that the licence of an airline will be revoked after 18 months from the date it was granted if the carrier does not start flying during that period.
The decision will take effect on June 1.-VNA
