Updated Wednesday, January 16, 2008 0:00 am TWN, dpa

Vietnam Airlines to sell shares to foreigners

HANOI -- State-owned Vietnam Airlines plans to partially privatize and sell up to 20 percent of shares to foreign investors this year, the new general director said Tuesday. The government has also granted permission for the national flag carrier to hire a foreign consultant to advise on the plan, according to General Director Pham Ngoc Minh.

“We are trying to become equitized within this year,” Minh told dpa by telephone.

“The existing capital will remain in the hands of the state and we will raise more capital by issuing shares. Foreign strategic partners may hold between 10 and 20 percent of the total capital,” he said.

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