Vietnam’s first cargo airline, privately owned IPP Air Cargo, will take to the skies as early as November this year after obtaining the necessary licenses to operate. Airline Chairman Jonathan Hanh Nguyen said the aircraft operator certificate. The businessman, an overseas Vietnamese who is now one of the richest men in Vietnam, made his fortune through luxury retail conglomerate Imex Pan Pacific Group, his family and his family directly own a 30% stake in the new airline, And the rest…
Vietnam’s first cargo airline, privately owned IPP Air Cargo, is ready to take off as early as November this year after obtaining the necessary licenses to operate
The airline’s chairman, Jonathan Hanh Nguyen, said the airline had obtained an air transport license but was waiting for several others, including an aircraft operator’s certificate.
The businessman, an overseas Vietnamese who is now one of the richest men in Vietnam, made his fortune through luxury retail conglomerate Imex Pan Pacific Group, his family and his family directly own 30% of the new airline. shares, and the rest by his company.
Contracts with chip manufacturers
The IPP Air Cargo program focuses on air transportation of manufactured goods for a variety of domestic and international companies. The airline has signed cargo deals with two of the world’s largest chipmakers, which have factories in northern Vietnam.
Nguyen said the airline’s first route will be from Jibi International Airport in the northern city of Hai Phong, mainly serving the two manufacturers.
The airline has previously discussed weekly flights between Australia’s Queensland and Da Nang. The route will begin early next year to transport agricultural products between the two countries.
Boeing as the aircraft of choice
The flights will be operated using four leased Boeing 737 800BCF aircraft, one of which has already been delivered and the others will be delivered in December and April next year. IPP Air Cargo also signed a $3.5 billion deal to buy 10 Boeing 777 freighters.
The airline’s charter capital is $300 billion ($12.8 million). It’s targeting $71 million in revenue in its first year of operations.
