VIETNAM's transport ministry is seeking approval from the prime minister to issue a licence to IPP Air Cargo, Reuters reports.
Imex Pan Pacific Group (IPPG) which established IPP Air Cargo, said: 'The Civil Aviation Authority of Vietnam has assessed that IPP Air Cargo's application for an air transport business licence complies with regulations.'
Following assessment, the Civil Aviation Authority of Vietnam proposed the Ministry of Transport review the results of the application and submit it to the prime minister for consideration, said IPPG.
The IPP Air Cargo aviation project has a total investment of VND2,400 billion (US$100 million), of which 30 per cent is equity capital. The remaining 70 per cent is mobilised money.
In the first year of operation, IPP Air Cargo is expected to fly five cargo aircraft. By the second year, the number of cargo planes will have increased to seven, and by the third year, there will be 10.
B737, B777 and A330 aircraft, as well as comparable aircraft, will be placed into service. IPPG does not specify whether these will be freighters or P2Fs.
IPP Air Cargo anticipates transporting around 115,000 tons of cargo in the first year of operations, with a revenue of $71 million.
SeaNews Turkey
Imex Pan Pacific Group (IPPG) which established IPP Air Cargo, said: 'The Civil Aviation Authority of Vietnam has assessed that IPP Air Cargo's application for an air transport business licence complies with regulations.'
Following assessment, the Civil Aviation Authority of Vietnam proposed the Ministry of Transport review the results of the application and submit it to the prime minister for consideration, said IPPG.
The IPP Air Cargo aviation project has a total investment of VND2,400 billion (US$100 million), of which 30 per cent is equity capital. The remaining 70 per cent is mobilised money.
In the first year of operation, IPP Air Cargo is expected to fly five cargo aircraft. By the second year, the number of cargo planes will have increased to seven, and by the third year, there will be 10.
B737, B777 and A330 aircraft, as well as comparable aircraft, will be placed into service. IPPG does not specify whether these will be freighters or P2Fs.
IPP Air Cargo anticipates transporting around 115,000 tons of cargo in the first year of operations, with a revenue of $71 million.
SeaNews Turkey
