T&T Group wants to buy Phu Quoc Airport

March 11, 2015 | 14:51

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The T&T Group has requested the transport ministry to allow it to buy Phu Quoc International Airport in the southern province of Kien Giang.

A corner of Phu Quoc International Airport. It's expected to be sold 100 per cent stake this year. Photo phongbanve.vn

The group is the first to ask the ministry to approve its investment in the airport, after Minister of Transport Dinh La Thang asked the Airports Corporation of Viet Nam (ACV) to prepare a pilot plan to sell 100 per cent stake in Phu Quoc Airport during a meeting held in Ha Noi at the end of last month.

The meeting discussed plans to mobilise social capital to invest in aviation infrastructure. If the pilot plan to sell the operational rights of Phu Quoc Airport is successful, ACV will continue to sell or transfer the operational rights of other airports.

The T&T Group expects to buy the airport either by buying the whole airport and its assets, or by receiving the operational rights and staff as well.

It has also pledged to continue investment in upgrading the airport, and will not transfer it to another party in the first five years.

The airport, located in Duong To Commune, became operational on December 15, 2012, with a total capital of VND3 trillion, or US$141 million, mainly funded by ACV.

The airport can accommodate wide-body aircraft such as Boeing 777-300s, Boeing 747-400s and Airbus A380-800s. It was designed to handle 2.65 million passengers per year by 2020, and up to seven million passengers by 2030.

It caters to domestic flights between the island district and Ha Noi, HCM City and other cities that are operated by local carriers such as Vietnam Airlines, VietJet Air and Jetstar Pacific.