Founded on 22-Apr-2019, Vinpearl Air was a proposed airline subsidiary of Vingroup, a Vietnamese real estate company. The new airline had a startup capital of VND1.3 trillion (USD56 million), with Vingroup subsidiary VinAsia Tourism Development owning a 45% stake in the carrier, with the remaining shares held by Hoang Quoc Thuy (30%) and Pham Khac Phuong (25%). Vingroup also planned to establish aviation training centres under a partnership agreement with CAE.
Vingroup notified Vietnam's Ministry of Transport it has withdrawn plans to launch start up carrier Vinpearl Air, citing oversupply in the market and plans to focus on technology development and industrial production.
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