January 09, 2020: KiteAir, an airline by Vietnam's Thien Minh Group has applied for the license for its launch by the second quarter this year. The initial investment will be 5.5 trillion dong ($237 million), according to Giao Thong newspaper, which is run by the ministry of transport.
Once it receives clearance, it will use six ATR72 planes in the first year. The firm plans to expand its fleet to 25 planes after six years of operations and also incorporate A320/A321 aircraft, the report said, adding that it would operate domestic routes.
The aviation market of Vietnam, which has a population of 96 million people, has been growing at double-digit rates, encouraging companies to compete for a slice.
Vietnam’s leading tour operator Vietravel said in September its newly established Vietravel Airlines will launch its first flight in 2020.
Vietnam’s largest conglomerate Vingroup JSC had applied for a license to launch an airline this year after property and leisure firm FLC Group’s Bamboo Airways started its maiden commercial flight a year ago to become the fifth Vietnamese airline.