kude.punny

Shipbuilding corporation expands into aviation

Ha Noi (VNA)- The Viet Nam Shipbuilding Industry Corporation, Vinashin, has said it will roll out a new joint venture with Malaysia-based budget airline, AirAsia.

The new carrier, which is slated to be called Vina AirAsia, will initially have a fleet of nine aircraft with the nation’s leading ship builder coming in for a 70 percent stake and AirAsia holding the remaining 30 percent.

Under Vietnamese law, foreign investors are permitted to own up to 49 percent of a carrier stock. Currently, Viet Nam is home to three airlines: the Vietnam Airlines, Pacific Airlines and Vasco.--Enditem

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