Vietnam Airlines may sell stake to ANA
Vietnam Airlines says Japan’s All Nippon Airways has been mooted as a strategic partner as the Vietnam flag carrier pursues a partial privatization.
Vietnam Airlines’ president Pham Ngoc Minh said ANA was one of several possibilities as it seeks to sell a 20% stake in the airline.
ANA generated $1.6 billion in a share offer in 2012 specifically to fund purchases in Asian airlines.
Minh said the airline is talking to several partners but would prefer to choose just one.
With a value of US$1.5 billion, Vietnam Airlines is offering a stake of just 5% in an initial public offering with the state set to hang on to control of three-quarters of the company.
The carrier has a 50% market share in Vietnam which is one of Asia’s fastest growing markets.
Minh said its stock would be listed within a year of the IPO, but declined to say which stock market.
The IPO was planned for this month but could be delayed once again.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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