To support the restructuring of Vietnam Airlines, the Government of Vietnam has requested the Commission for the Management of State Capital at Enterprises (CMSC) to transfer Vietnam Air Petrol Company (Skypec) from Vietnam Airlines to PetroVietNam (PVN).
This deal also aims to strengthen PVN's capacity in the supply chain and petroleum production.
CMSC is also asked to report any issues that are beyond its authority and propose solutions to Deputy Prime Minister Lê Minh Khái before July 15.
At the beginning of this year, Vietnam Airlines has consulted firms to implement Skypec's plan of transferring capital to resolve the financial issues.
Skypec has a charter capital of $34 million, with Vietnam Airlines’ ownership rate of 100%
Petrolimex Aviation and Skypec are currently the two main suppliers of aviation fuel in Vietnam domestic market.
Spkypec owns watershed warehouses at seaports and airports at 18 civil airports nationwide and is capable of serving over 214,000 flights with a total annual output of over two million tonnes per year.