The PM has promulgated Decree 92/2016/ND-CP on conditional business lines of civil aviation.
 |
| Illustration photo |
The PM has promulgated Decree 92/2016/ND-CP on conditional business lines of civil aviation.
Under the newly-issued decree, conditional business lines of civil aviation include aviation transport business, aviation terminal business, airports; aviation business services at airports; designing, production, maintenance, and testing of aircrafts, airplane engines, propeller, and equipment; as well as aviation training business.
The new decree also regulates the maximum charter capital for the establishment and operation of civil aviation business.
Accordingly, with 10 airplanes, an airline must have at least VND 700 billion (US$ 31.33 million) of charter capital to serve for international services and VND 300 billion (US$ 13.43 million) for domestic services.
With a fleet of 11-30 aircraft, an airline has to own a maximum charter capital of VND 1.3 trillion for international services and VND 700 billion for domestic aviation transport services.
Air transport enterprises which have foreign investment must meet the two following conditions: (i) foreign party must not own over 30% of charter capital; (ii) at least one Vietnamese or legal person holds the largest proportion of charter capital. If a Vietnamese legal entity has foreign investment, foreign ownership is limited to 49%.
The transferring of stocks for foreign investors will be implemented two years after getting aviation transport permits./.
(Source:VGP)
