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T&T Group proposes buying Phu Quoc Airport

Released at: 14:55, 12/03/2015

T&T Group proposes buying Phu Quoc Airport

Proposal includes two plans for developing the airport.

by Hung Nguyen

The T&T Group has proposed two plans to purchase Phu Quoc Airport: buying all its assets or taking over operational rights and staff.

The group is the first to forward a purchasing plan to the Ministry of Transport, following Minister of Transport Dinh La Thang directing the Airports Corporation of Vietnam (ACV) to prepare plans to equitize 100 per cent of the airport this year and to do likewise with a number of other airports.

T&T also pledged it would continue to invest in upgrading the airport and would not transfer it to another party for five years.

The move by T&T attracted major attention from public, after it had also proposed purchasing Quang Ninh Port (the second largest in the northern region).

Phu Quoc Airport became operational in December 2012, with total investment of VND3 trillion ($140.5 million). It meets the 4E standard of the International Civil Aviation Organization (ICAO).

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