Vietnam Airlines.
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Vietnam Airlines is the flag carrier of Vietnam. Founded in 1956 under the name Vietnam Civil Aviation, the airline was established as a state-owned enterprise in April 1989.
As passenger transport constitutes its core activity, Vietnam Airlines plays a crucial role in the economic development of the country. It owns 100% of Vietnam Air Service Company – a regional airline in southern Vietnam, 70% of the low-cost carrier Jetstar Pacific Airlines, and 49% of the Cambodian national airline Cambodia Angkor Air.
In addition, the corporation earns revenue from airline catering and the maintenance and overhauling of aircraft through a number of its subsidiaries, including Vietnam Airlines Engineering Company and Vietnam Airlines Caterers. The company has also diversified its investments in the aircraft-leasing and airport ground-servicing industries and is looking to manufacture aircraft components. It controls and operates a cargo division, Vietnam Airlines Cargo.
Vietnam Airlines became a member of SkyTeam in June 2010, making it the first Southeast Asian carrier to have joined that alliance. It is expected to be restructured and partially privatized by 2015 to help it streamline its services and better compete with other airlines. This would facilitate its long-term development plan that involves the improvement of its products and services, and the expansion of its fleet and flight network, as the airline, aspires to become the second-largest full-service carrier in Southeast Asia by 2020.
