Five Doubts About Hm Aeronautics Inc You Should Clarify | Hm Aeronautics Inc

By Khanh VU

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HANOI, Jan 14 (Reuters) – Vietnam’s better amassed Vingroup JSC VIC.HM said on Tuesday it has scrapped a plan to barrage an airline and will instead focus on technology development and automated production.

The aggregation aftermost year activated for a licence to barrage an airline in 2020 but had yet to adjustment any planes.

It has now notified the Ministry of Carriage that it will abjure from the aerodynamics carriage casework sector.

“We charge to focus our assets on the development of technologies and automated production, and accordingly we accept absitively to withdraw,” Chief Executive Nguyen Viet Quang said in a statement.

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Quang said Vietnam’s aerodynamics bazaar has been developing rapidly but there are already several airlines, and that the group’s move to barrage addition carrier would advance to oversupply.

Vingroup, already a absolute acreage and retail conglomerate, has developed to become Vietnam’s better listed close with a bazaar capitalisation of over $16 billion. It now additionally sells vehicles, television sets and smartphones and is attractive to access the bogus intelligence sector.

Vietnam’s aerodynamics bazaar has been growing at double-digit pace, alluring new entrants.

Property and leisure close FLC Group JSC’s FLC.HM Bamboo Airways conducted its beginning bartering flight a year ago to become the country’s fifth airline.

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Other companies, including Thien Minh Group and bout abettor Vietravel, additionally aim to barrage airlines this year.

Vingroup said it will abide to alternation pilots at its VinAviation academy.

Vietnam’s better close Vingroup affairs to barrage airline in awash market

Vietnam’s KiteAir seeks 2020 barrage in fast-growing aerodynamics bazaar

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Vietravel Airlines affairs 2020 barrage in fast-growing market

(Reporting by Khanh Vu; Editing by Himani Sarkar and Christopher Cushing)

(([email protected]; 84 24 38259623;))

The angle and opinions bidding herein are the angle and opinions of the columnist and do not necessarily reflect those of Nasdaq, Inc.

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