Pagodas in Ho Chi Minh City this week have lit seven lotus-shaped lanterns to celebrate the anniversary of Buddha's birth.
A Vietnam Airline's flight lands on Phu Cat airport in the south central coast province of Binh Dinh. The Civil Aviation Administration is considering a draft decree on aviation with stricter regulations. — VNA/VNS Photo Viet Y
Under the draft, organisations and individuals with a fleet of up to 10 aircraft would be required to have a minimum of VND300 billion (US$15 million) in charter capital to operate domestic flights and VND800 billion ($38.8 million) to operate international flights.
The draft to amend Government Decree 76 on aviation regulations would require companies planning to operate more than 10 aircraft to have a minimum charter capital of VND1 trillion ($48.5 million) in comparison with the current VND800 billion.
If the draft is approved, the tenure of each carrier's business licence would be cut from 24 months to 18 months.
VNA plans to buy Airbus A380
HA NOI — The Ministry of Transport has submitted an amended plan to the Government about how to develop Vietnam Airlines.
In the report, the ministry said that it supported the national carrier's plan to invest in new technology in order to improve service and strengthen competitiveness.
Regarding plans to buy Airbus A380 aircraft, the world's largest passenger plane to date, the ministry said that Vietnam Airlines might clearly analyse and study Vietnamese airport infrastructure.
The carrier also needed to study the market to form an effective investment and marketing plan, the ministry said.
The airline would have to submit a detailed investment capital and debt payment plan, the ministry added.
Vietnam Airlines plans to expand its fleet to 115 and 170 aircraft by 2015 and 2020 respectively.
This year, the carrier expects to carry more than 14 million passengers and 193,000 tonnes of cargo, representing 20 per cent and 16 per cent increases, respectively in comparison with last year.
In 2011, the corporation hopes to reach a revenue of VND45.5 trillion (US$2.2 billion), a year-on-year increase of 28 per cent. — VNS
The draft additionally suggests that carriers obtain Aircraft Operator Certificates within 12 months of receiving business licences, instead of within the existing 24 months.
Business licences will be revoked if carriers fail to start operations within 18 months.
Vo Huy Cuong, head of the Transport Department of CAAV, said that existing requirements for carrier charter capital had proven out of date due to inflation and the depreciation of the Vietnamese dong against the US dollar.
Cuong cited that last year, the private carrier Indochina Airlines had to halt operations after only one year due to insufficient finances.
Higher charter capital requirements, having received the thumbs-up at a recent CAAV meeting, would deter incompetent organizations from operating in the aviation sector, keeping the market healthy and stable, Cuong said.
If approved, the new decree would not affect current licensed carriers, although it would keep those with insufficient charter capital from expanding operations, Cuong added. — VNS