Hanoi (VNA) - The Ministry of Planning and Investment (MPI) hassubmitted to the Prime Minister plans for the establishment of Vinpearl Air,with investment capital of 4.7 trillion VND (202.6 million USD).

The airline plans to take off next year and develop a fleet of 30 aircraftwithin four years.

Vinpearl Air has total investment of 4.7 trillion VND, of which equity capitalis 1.3 trillion VND.

Vinpearl Air stated that it plans to begin operations in July next year ifapproved. It will be based at Noi Bai International Airport.

The airline will have six narrow-body aircraft with 150-220 seats in the firstyear.

The airline does not plan to exploit international routes in the first year. Itwill operate 32 international flights in the second year (2021).

It expects to operate 62 domestic routes and 93 international routes by 2025.

To prepare for the establishment of the airline, Vinpearl Air signed amemorandum of understanding with the Airport Corporation of Vietnam (ACV), inwhich ACV committed to provide services to Vinpearl Air at 18 airports.

Earlier, the Ministry of Transport said that Vinpearl Air was eligible topropose the plans to the Prime Minister for consideration and approval of theinvestment policy.

In case the Prime Minister approves, the Ministry of Transport will direct theCivil Aviation Authority of Vietnam to appraise the air transport businessconditions then report the results to the Prime Minister./.