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.
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.
Nguyen Thanh Hung, board chairman of Sovico Group (R) and David Fox, CEO of Linfox Airports (l) at the signing ceremony. Source: VGP.
|
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.
Other News
- Hanoi seeks 5% export growth in 2025
- Vietnam-Laos Industrial Park: New direction to strengthen bilateral ties
- Hanoi's foreign trade turnover hits US$60.1bn in 2024
- Vietnam confident of achieving 8% growth rate in 2025
- UK’s accession to CPTPP to benefit Vietnam’s exports in 2025
- Hanoi seeks greater efficiency in e-commerce tax management
- Hanoi's wet markets in decline amid changing consumer behaviors
- Heavy fines for unhygienic street vendors in Hanoi
Trending
-
PM calls for Polish businesses to seize opportunities in Vietnam’s market
-
Vietnam news in brief - January 17
-
More than 2,000 drones paint Hanoi's landmarks in New Year's skies
-
Hanoi kicks off the Spring Calligraphy Festival in celebration of Lunar New Year
-
Hanoi’s central role means heightened responsibility in foreign affairs: Mayor
-
Hanoi revives historic Tet traditions in Duong Lam Ancient Village
-
AI set to drive Vietnam's economic growth in 2025
-
Two Vietnamese cities in Asia's top five destinations for digital nomads
-
Prime Minister sets vision for Vietnamese football: Asian glory and World Cup dreams