The Civil Aviation Authority of Vietnam has just proposed to the Ministry of Transport to grant an air transport business license to IPP Air Cargo.
After two appraisals, the Civil Aviation Administration of Vietnam evaluated the application for an air transport business license of IPP Air Cargo Joint Stock Company in accordance with current regulations.
Previously, Mr. Johnathan Hanh Nguyen’s airline had to add many documents to this file, including a plan to increase capital to make up for the shortfall in capital in the first 3 years of operation due to negative profits, proving IPP Air Cargo 100% Vietnamese capital…
On this basis, the Civil Aviation Authority of Vietnam has proposed to the Ministry of Transport to consider the results of the appraisal of the dossier and submit it to the Government for the grant of an air transport business license to this airline. According to the Ministry of Transport, Vietnam’s aviation market is gradually recovering, especially air freight.
IPP Air Cargo Joint Stock Company has a minimum capital of 300 billion VND, of which, Lien Thai Binh Duong Import and Export Company Limited (IPPG) contributes 210 billion VND (70%), and Duy Anh Trading Company Limited, Ms. Le Hong Thuy Tien, Mr. Nguyen William Hieu – wife and son of Mr. Johnathan Hanh Nguyen – each party contributes 10%.
Mr. Johnathan Hanh Nguyen applied to establish the IPP Air Cargo cargo airline project in the middle of last year. However, at that time, the Civil Aviation Authority of Vietnam had not considered establishing more cargo airlines while Vietnam’s aviation industry was still facing many difficulties because of the epidemic.
According to the plan, IPP Air Cargo wants to operate 5 cargo aircraft in the first year, then increase to 10 in the 5th year. The airline plans to operate B737, B777 or equivalent aircraft. The IPPG president said that he is trying to expedite the delivery of the first Boeing cargo aircraft in June.
However, to be able to take off, after being granted an air transport business license, IPP Air Cargo still needs an additional aircraft operator certificate (AOC – Aircraft Operator Certificate) and related procedures.