VietNamNet Bridge – Along with a project to sell usage rights of Phu Quoc Airport, the Airport Corporation of Vietnam (ACV) was assigned by the Ministry of Transport to submit an equitization plan in April.
ACV was told to build the equitization plan with two phases, under which the state ownership will fall to 75% and then 65%. Previously, the Ministry of Transport’s report to the Government last year set the state ownership rate at over 75%.
At the end of the fiscal year 2013, ACV’s charter capital was nearly VND14,700 billion. However, according to the recently-approved decision by the Ministry of Transport, state capital in ACV is VND20,769 billion out of the total enterprise value of nearly VND38,000 billion (as of mid-2014).
Last year ACV equitized two subsidiaries,Tan Son Nhat Aviation Services Limited (SASCO) and Saigon Ground Services Company (SAGS), earning more than VND1,000 billion.
Founded in 2012 after the merger of the three airport corporations of the north, the south, and the central region, ACV is one of the largest capitalized firms in the field of transport infrastructure .
ACV operates 22 civil airports, including six international airports, Tan Son Nhat, Noi Bai, Da Nang, Phu Bai , Cam Ranh, and Can Tho, and 14 local airports, Buon Ma Thuot, Lien Khuong, Rach Gia, Ca Mau, Con Dao, Phu Cat, Pleiku, Tuy Hoa, Dong Hoi, Vinh, Cat Bi, Na San, Dien Bien, and Tho Xuan.
It also runs two airport ground service companies in Hanoi and HCM City.
Hai Son
VN Airports Corporation may sell 35% of state capital Related image(s)
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