Latest blog articles
The airlines that failed to take off in Vietnam
Indochina Airlines, for example, shut down just after a short time of operation. It was the second private airline licensed in Vietnam and the first private airline providing commercial flights in 2008 with two chartered Boeing 737s. In its heyday, the airlinehad six domestic air routes.
However, one year later, the number of air routes was cut to one – HCMC-Hanoi. This was attributed to the global economic crisis which led to a sharp fall in travel demand.
In 2011, the airline stopped providing flights because of a series of problems, including huge debts to partners and inability to pay workers. It officially disappeared from the map of Vietnam’s airlines in late 2011.
Air Mekong was the third private airline which tried to fly. It joined the market later than the other rivals – Vietjet Air and Indochina Airlines. Only in October 2010 did it provide the first commercial flight.
The Malaysian budget airline AirAsia is now planning to operate in Vietnam after previous three attempts. This has been cited as proof to show the attractiveness of the market, but analysts say the Vietnamese sky may not be welcoming for all.
Air Mekong started with four chartered Bombardier CRJ 900s, flying to eight domestic destination points.
In 2012, Air Mekong’s managers admitted the sluggish operation because of economic difficulties. Though its revenue in 2012 was higher by 7 percent than in 2011, the situation was still bad.
In late 2012, Air Mekong’s CEO Luong Hoai Nam resigned from the post just four months after taking the office. Just some days later, its fuel suppliers condemned Air Mekong for not paying debts.
In February 2013, the airline with red-headed cranes as a symbol had to stop flying and give four aircraft back to undergo restructuring. In early 2015, its operation license was revoked by the watchdog agency.
Pacific Airlines was the first joint stock airline in Vietnam with the capital contribution from the state. It was established in 1991 by the Civil Aviation Authority of Vietnam (CAAV) and four member companies which held 86.49 percent of stakes. Saigontourist held 13.06 percent and Tradevico 0.45 percent of the airline with VND40 billion in charter capital.
In 2007, the Australian Qantas negotiated with the State Capital Investment Corporation (SCIC) on the purchase of 30 percent of Pacific Airlines’ stakes, becoming a strategic shareholder of the air carrier.
Thanks to the investment capital from Qantas, Pacific Airlines underwent a restructuring process. However, it had to be renamed Jetstar Pacific.
At present, it has two big shareholders – Vietnam Airlines which holds 70 percent of capital and Qantas 30 percent.
Vietnamese company gains EU aircraft maintenance certificate
Budget airlines benefit VN tourism
At least now Giants don't have to root for Cowboys
EAST RUTHERFORD, New Jersey (AP) — At least now the Giants don't have to root for the Cowboys.After Tampa Bay lost to New Orleans on Saturday, New York advanced to the playoffs. Had the Bucs won, the Giants would have needed their archrival from Dallas to beat Detroit on Monday night to secure a postseason berth.Instead, the Giants (10-5) are in the playoffs for the first time since 2011, when they won the Super Bowl. They must wait until after the regular season finales to find out where they… chat_bubble_outline Read More...
China turns to robots as workers age
Humanoid robot Jia Jia, created by a team of engineers from the University of Science and Technology of China, is seen following a presentation at a conference in Shanghai on January 9, 2017. Her creators believe the eerily life-like robot heralds a future of cyborg labour in China. Photo by AFP Flat, orange robots glide under stationary cars and ferry them to empty Chinese parking bays, using space more efficiently and, their creators say, reducing driver stress. It is one of a number of… chat_bubble_outline Read More...
Turkish parliament backs bill boosting Erdogan powers
Ankara (AFP) - Turkey's parliament early Saturday backed a controversial bill that would dramatically expand the powers of President Recep Tayyip Erdogan.The parliament in a late-night session approved the seven final sections of the 18-article constitution and in a final vote the ruling Justice and Development Party (AKP) received 339 "yes" votes for the bill as a whole.The party needed at least 330 or more votes -- a three-fifths majority -- for the adoption of the constitutional change and… chat_bubble_outline Read More...
FACT CHECK: Trump's slam on Schwarzenegger's ratings
NEW YORK (AP) — Arnold Schwarzenegger is the latest victim of a Donald Trump Twitter attack. The president-elect took time Friday to note that the "Terminator" star was "swamped" in his "Celebrity Apprentice" debut "by comparison to the ratings machine, DJT.""So much for being a movie star," Trump tweeted, continuing: "But who cares, he supported Kasich and Hillary."Schwarzenegger tweeted back, urging Trump to work as hard for the American people as he did for his ratings.Trump is right about… chat_bubble_outline Read More...
Migrants pitch in on Italy avalanche relief effort
Penne (Italy) (AFP) - A group of asylum-seeking African migrants on Saturday joined volunteers helping the relief effort at an avalanche-hit hotel in earthquake-ravaged central Italy..Originally from Senegal and Guinea, the young migrants had previously done volunteer humanitarian work in Turin and offered to help after the region was hit by the double whammy of multiple earthquakes and the deadly avalanche which engulfed the Hotel Rigopiano on Wednesday."They asked if they could give a hand,"… chat_bubble_outline Read More...