Headlines 22/11/2019 11:08 SA

Capital requirements for air transport enterprises to be amended

Quý Tân

This is the noticeable matter mentioned in the Decree No. 89/2019/ND-CP on amendments to the Decree No. 92/2016/ND-CP dated July 1, 2016 regarding industries and business sectors subject to regulatory requirements in the civil aviation field.

Pursuant to the Decree, instead of minimum regulatory capital requirements for specific international or domestic air transport services as prescribed in existing regulations, minimum regulatory capital requirements for establishment and maintenance of air transport service businesses will be subject to the following requirements:

+ Businesses running up to 10 aircraft: 300 billion Vietnamese dong;

+ Businesses running from 11 to 30 aircraft: 600 billion Vietnamese dong;

+ Businesses running more than 30 aircraft: 700 billion Vietnamese dong;

In addition, foreign investors may hold 34% at maximum of charter capital of foreign-invested air transport service businesses (compared to 30% prescribed in existing regulations) 

See more details in the Decree No. 89/2019/ND-CP in force from January 1, 2020.

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