Vietnam's Pacific Airlines to re-launch as Jetstar in partnership with Qantas Group
16 Apr 2008
Ho Chi Minh City: Vietnam's Pacific Airlines and Australian airline Jetstar have formed a strategic and commercial partnership under which Vietnam's first low-cost carrier will rename itself as Jetstar Pacific and ramp up operations in both the Vietnamese and intra-Asian markets.
Under a business service agreement reached by Jetstar and Pacific Airlines, Jetstar Pacific will eventually operate a fleet of up to 30 Airbus A320 aircraft by 2014.
The deal will support the ongoing development of a comprehensive domestic network within Vietnam, before Jetstar Pacific spreads its wings into international markets including Thailand, Singapore, Malaysia and Cambodia later in the year.
The Qantas Group, which owns Jetstar, will increase its investment in Pacific Airlines to a 30-percent holding by 2010, from the 18 per cent acquired in July 2007.
The name change will take effect 23 May.
Pacific describes itself as "Vietnam's first low-cost, value-based airline."
"Jetstar Pacific will be able to access and leverage the significant expertise and resources within the Qantas Group that will help enable its planned future growth," Qantas CEO, Geoff Dixon, said. "This includes the placement of Qantas and Jetstar executives in key management roles within Jetstar Pacific and the supply of a range of aviation services."
Pacific currently serves seven domestic destinations, with four 737-400s, but plans eventually to ramp up its operations eightfold. Apart from domestic services the carrier also offers flights to Ho Chi Minh from Sydney and Singapore.
