Competition in the airline industry in Vietnam just got tougher as a new carrier is set to join the country’s aviation market. This follows the announcement by real estate and retail conglomerate Vingroup of the establishment of Vinpearl Air, a Hanoi-based carrier.

Vinpearl Air will be the sixth carrier to be launched in the country, joining Vietnam Airlines, VietJet Air, Jetstar Pacific, VASCO, and Bamboo Airways, which started operations only last January.

Vinpearl Air has been granted a business license by the Hanoi Department of Planning and Investment, media reports said.

With a registered capital of VND1.3 billion (US$56 million), Vinpearl Air was established on April 22 this year, a new company formed from an old firm named VinAsia Trade Development and Services JSC, Vingroup said in a statement July 9.

The airline’s majority shares are held by the group’s tourism arm VinAsia Tourism Development with 45%, and the remainder held by two individuals, one with a 30% share and the other, 25%.

The airline will be flying international routes using at least 30 aircraft, reports said.

Its parent company Vingroup has also signed a cooperation agreement with integrated aviation training services provider CAE Oxford  to establish two aviation training schools for pilots, flight technicians, and other personnel. The two schools, VinAviation School and Vinpearl Air Training Centre, will be established in Vietnam.

VinAviation School plans to train 400 pilots and technicians annually. The training will be carried out based on the standards defined by the Civil Aviation Authority of Vietnam, the U.S. Federal Aviation Administration, and the European Union Aviation Safety Agency. Vinpearl Air Training Centre will offer aviation-related courses for light dispatchers, trainers, operators, and other aviation personnel.

Photo: Genghiskhan

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