Vietnam Airlines (VN, Hanoi Noi Bai International) and Qantas (QF, Sydney Kingsford Smith) have injected a collective USD35million into their Vietnamese joint-venture, Jetstar Pacific (Ho Chi Minh City), during a June cash call. Vietnamese business media reports that 69% shareholder, Vietnam Airlines, contributed USD25million while 30% shareholder, Qantas, contributed USD10million. Minority shareholder, Saigontourist Travel Services, however moved to reduce its stake in the LCC from 6.1% to 1%.
Overall, Jetstar Pacific General Director Le Hong Ha said, shareholders voted in favour of increasing the carrier's charter capital to nearly USD121.5million.
The carrier intends to use the capital to aid in its expansion plans which, from October this year onwards, will see it resuming its first international flights from Ho Chi Minh City to Singapore Changi followed by Bangkok Don Mueang flights in December.
