Major Planemakers Vying For Piece of Vietnam Pie

Blossoming Economy Brings New Middle Class To The Skies

Vietnam is proving to be one of the fastest-growing commercial air travel markets in the world... and the plane-making heavyweights are vying for a piece of what could be a very lucrative pie.

Boeing, Airbus and Bombardier have begun courting state-owned Vietnam Airlines and its modernization plans for its fleet of 45 Boeing, Airbus, ATR and Fokker aircraft. The carrier is on the brink of partial privatization and a new fleet is deemed necessary to help it successfully compete, according to Agence France-Presse.

There is also talk of the carrier transitioning its subsidiary, Vietnam Air Service Co., into a low-cost carrier.

"We want to be one of the leading regional carriers," said Bach Quoc Thang, Vietnam Airlines general manager for corporate affairs. "Singapore Airlines and Cathay Pacific are the examples we want to follow."

The communist-ruled country's economy is growing at more than eight percent a year, creating a new middle class able to afford such luxuries as air travel.

Aero-News Network, FL