Vietnamese Prime Minister Nguyen Xuan Phuc has recently agreed to license a local company for air transport, making it the 6th airline of the country, Vietnam News Agency reported on Thursday.
The prime minister assigned the country's Ministry of Transport to clarify the financial capacity of the Vietnam Travel Aviation Company Limited (Vietravel Airlines) to ensure the minimum capital required for the operation of the airline, said the news agency.
During its first year of operation, the carrier will use three aircraft, before rising to eight by its fifth year, the news agency reported.
The airline, which will conduct both domestic and international flights, has set a goal of catering to 1 million passengers in its first year, thus creating nearly 600 jobs.
Vietravel Airlines is set to become the country's 6th airline following national flag carrier Vietnam Airlines, Vietjet Air, Jetstar, VASCO and Bamboo Airways, according to the report.