Vietnam Airlines to sell 20 percent of stock to foreign partners

Hanoi, June 19 (VNA) - The government has given the nod to the national flag carrier Vietnam Airlines to sell 10-20 percent of its stock to foreign strategic partners.
The State will retain a stake of between 70-80 percent.
The airline during its equitisation process will maintain the present State capital and issue shares to increase its charter capital.
At present, Vietnam Airlines has been implementing its equitisation procedures, including selection of a financial consultant, design of an equitisation plan, inventory of assets, auditing, and other work.
The carrier will soon present its selection of a financial consultant to the Prime Minister.
Over the recent years, Vietnam Airlines has recorded high growth rates in passenger volume and revenues.
Last year, it transported 8 million passengers and earned revenues of 20.37 trillion VND, up 18 percent and 15.5 percent, respectively, over 2006.
In 2008, the airlines expects to serve 9 million passengers, maintaining its annual growth rate of above 14 percent, despite the harsh competition in both the domestic and international markets.