Last updated: 15:24 - April 27, 2007
Australia's Qantas becomes strategic partner of Pacific Airlines http://www.nhandan.com.vn/english/business/270407/business_australia.htm
Australian flag carrier Qantas will hold 30% of stake of Vietnam's Pacific Airlines (PA), becoming its strategic partner.
A contract to this effect was signed in Hanoi on April 26 between Qantas and the State Capital Investment Corporation (SCIC) of Vietnam, which holds 92% of Pacific Airlines.
Qantas' Chief Financial Officer Peter Gregg said the investment is a move to expand the airlines operation in Southeast Asia.
The Australian partner will help the PA confirm its position in Vietnam as a low-cost airlines.
On the same day, Australian Ambassador to Vietnam Bill Tweddell welcomed the signing of an investment agreement between Australian flag carrier Qantas and Vietnam's State Capital Investment Corporation (SCIC).
"Given our history in civil aviation co-operation, the deal represents a natural development in the relationship," he said.
Ambassador Tweddell said the agreement was another example of the close and long-lasting trade ties between Australia and Vietnam.
He said that civil aviation is an area where Australia and Vietnam have always had very close links. The two countries have not only cooperated in pilot training courses and pilot licensing for many years, but Australian technology is also present in Vietnam's air traffic control systems. (VNA)
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