Nationality check needed for IPP Air Cargo shareholders for licensing: ministry

If any of the four shareholders of the company have dual nationality, they should specify their choice of nationality in the permits, the ministry advised the government.

The company’s owners are Imex Pan Pacific represented by Nguyen Hanh, Duy Anh Commerce represented by Nguyen Phi Long and individual shareholders Le Hong Thuy Tien and Nguyen William Hieu.

This is because Vietnamese and foreign investors have different rights and responsibilities.

IPP Air Cargo is set to become the country’s first cargo airline.

It needs approval from six ministries, a flight permit from the Civil Aviation Authority of Vietnam and an aircraft operator’s certificate.

It plans its maiden flight from Cat Bi International Airport in Hai Phong City in November if it receives the permits by then.

It has leased four cargo aircraft, and has placed orders for another 10 Boeing B777s worth US$3.5 billion.

Vietnam has six passenger carriers: Vietnam Airlines and its subsidiaries Pacific Airlines and Vietnam Air Services Company, Vietjet, Bamboo Airways, and Vietravel Airlines.