Aug 24, 2019 / 14:27

Vietnam, Australia enterprises expand aviation cooperation

The Hanoitimes - Vietnam’s Sovico Group and Australia-based Linfox Group would cooperate in air transportation of passengers and cargo, developing aviation infrastructure and accommodation facilities in Australia.

Vietnam’s major corporation Sovico Groups, a major shareholder of budget airline Vietjet Air, has signed a cooperation agreement with Australia’s leading logistics company Linfox Group in fields of aviation transportation. 
 
Nguyen Thanh Hung, board chairman of Sovico Group and David Fox, CEO of Linfox Airports
Nguyen Thanh Hung, board chairman of Sovico Group (R) and David Fox, CEO of Linfox Airports (l) at the signing ceremony. Source: VGP. 
Vietnam’s Prime Minister Nguyen Xuan Phuc and his Australian counterpart Scott Morrison witnessed the signing on August 23, in which Nguyen Thanh Hung, board chairman of Sovico Group, and David Fox, CEO of Linfox Airports, the operator of two airports Avalon and Essendon, on behalf of the two companies inked the agreement. 

Following the deal, Sovico and Linfox would cooperate in air transportation of passengers and cargo, developing aviation infrastructure and accommodation facilities in Australia. 
 
The two companies also agreed to open new flight routes among Vietnam, Australia and regional countries in the coming time. 

The agreement left the door open for comprehensive cooperation between Sovico and Linfox, including the establishment of a joint venture in aviation, airport infrastructure development, tourism, services, banking and finance, among others. 

Sovico Holdings, in which Vietjet Air CEO Nguyen Thi Phuong Thao owns 52% of charter capital, currently holds a 7.59% stake of the budget airline’s charter capital. 

Linfox Group is a leading conglomerate in Australia investing in aviation, real estate development, transportation, and banking. 

Australian Prime Minister Scott Morrison started a three-day official visit to Vietnam on August 22 following the invitation of his Vietnamese counterpart Nguyen Xuan Phuc.