Thus, Vietnam Airlines will become the main shareholder with 98 percent of the stake.
Vietnam Airlines stated that Jetstar Pacific would use a new logo and livery of the national flag carrier; and the aviation authorities will decide to allow operation period under the new name Pacific Airlines.
The airline will also change its reservation system from Navitaire to Sabre, which is currently used by Vietnam Airlines for its booking, to synchronize flight network, booking procedures and customer functions with Vietnam Airlines.
According to senior leader of Qantas Group cum CEO of Jetstar Group Gareth Evans, the synchronization of booking system is expected to help Pacific Airlines reduce costs and create a solid growth foundation for the carrier in the post-Covid-19 recovery period.
In the period of 2018 - 2019, the airline had its profit at about VND30-50 billion (US$1.3 million to US$2.1 million).
In January 2020, the airline profit reached VND150 billion (nearly US$6.5 million); however, the Covid-19 global pandemic caused the company to loss VND1,200 billion (nearly US$52 million).
Currently, the airline has 18 aircrafts. In the upcoming time, the re-branded airline will need to add 30-40 planes for its plan.
Qantas Group and Vietnam Airlines have necessary changes related to the shareholding structure.
