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Pacific Airlines

From Academic Kids

Pacific Airlines is an airline based in Ho Chi Minh City, Vietnam. It operates domestic scheduled passenger and cargo services and provides charter flights by request to regional destinations. It's main base is Ho Chi Minh International Airport (SGN), Ho Chi Minh City.

Contents

Code Data

  • IATA Code: BL
  • ICAO Code: PIC
  • Callsign: Pacific Express

History

The airline was established in 1991 and started operations in 1992. It is a joint venture among six of Vietnam's state-run enterprises. The biggest stakeholder is national carrier, Vietnam Airlines (60%), with Saigon Tourism, Vasco, Sasco and Airimex owning 13.51%. It was the first airline formed in Vietnam following changes in the law to allow foreign investment in the country's airlines. It is now the second largest airline in Vietnam (at January 2005). In 2005, it narrowly escaped closure due to the inability of paying its debt and continuous non-profitable operations. Vietnam Airlines's share in the company has been transfered to the Ministry of Finance although its chairman remains and an ex-Vietnam Airlines employees.

Services

Pacific Airlines operates the following services (at January 2005):

The airline previously provided services to Hong Kong.

Fleet

The Pacific Airlines fleet consists of the following aircraft (at March 2005):

Other aircraft have been disposed of, including 4 Airbus aircraft of different types, 2 Boeing 737-300 aircraft and 3 McDonnell Douglas aircraft.

News

Vietnam's Pacific Airlines will sell a 30% stake to Temasek Holdings Pte., Singapore's state-owned investment company, in the second half of 2005. A Ministry of Finance official said Pacific Airlines is now valued at $167 million, and Temasek will invest $50 million to acquire the 30% stake. With the cash injection from Temasek, Pacific Airlines, which has accumulated debts of VND215 billion ($14 million) after more than 10 years in operation, will be able to pay off its debts and prepare for new developments, he said.


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