Vietnam Airlines and Qantas have injected a collective $35 million into their Vietnamese LCC joint-venture, Jetstar Pacific. Minority shareholder Saigontourist Travel Services has moved to reduce its stake in Jetstar Pacific from 6.1% to 1%. Overall, Jetstar Pacific General Director Le Hong Ha said that shareholders voted in favour of increasing the carrier’s charter capital to nearly $121.5million. Jetstar Pacific intends to use the capital to aid its expansion plans, which feature the introduction of long-haul flights from Ho Chi Minh City to Singapore and Bangkok in December.
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