Planes. Qantas-Vietnam Airlines joint-venture close to end
Both carriers are about to conclude an outgoing agreement
After thirteen years, the time is now ripe to dissolve a joint-venture that reserved important satisfactions for two air carriers: Qantas and Vietnam Airlines are ready to end this long-standing collaboration, which started in 2007 to give life at Jetstar Pacific. Already in June, the Australian airline had made it clear that there would be a novelty of this type, and the conclusion of the outgoing agreement is practically given for certain in these hours by the local media. A little less than three decades ago, the Australian flag carrier paid Hanoi $ 30 million to obtain an 18% stake in Pacific Airlines, a stake that grew to 30% three years later.
Pacific Airlines is the name of the carrier which was then changed to Jetstar. The latter was unable to gain ground despite the good demand for passengers; official announcement of the dissolution of the joint venture is scheduled for the end of this month of October. Qantas was serious about betting on Vietnam, but the market did not turn out to be as profitable as hoped for in 2007, a fact coupled with Jetstar's record losses in August (nearly $ 50 million to be exact).
On the subject read also the article published by AVIONEWS.
AVIONEWS - World Aeronautical Press Agency