Vietnam Airlines gets go ahead, Jetstar Pacific

Vietnam Airlines' takeover of budget carrier Jetstar Pacific has been given the go ahead by Vietnam's Prime Minister according to Vietnam News. State Capital Investment Corporation (SCIC) who has a 70 per cent State-owned stake in Jetstar Pacific has been in financial difficulties for years.? Vietnam Airlines would manage SCIC's total stake in Jestar with the remaining shares held by Qantas and Saigontourist. First proposed by the Ministry of Finance, the takeover plan is expected to take place by 15 February, raising questions about the monopoly status of Vietnam Airlines domestically. Jetstar Pacific holds about 17 per cent stake in the local market, with Vietnam Airlines holding more than half at 80 per cent.? Civil Aviation Administration of Viet Nam's deputy director Lai Xuan Thanh said Jetstar Pacific would remain an independent carrier to counteract the State's airline dominance.