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Vietnam Airlines sells Cambodia Angkor Air stake
Vietnam Airlines has sold its stake in Cambodia Angkor Air.
The 49% stake was snapped up by ‘undisclosed buyers’ according to the Cambodia civil aviation ministry.
They are thought to be private equity investors.
The deal includes the sale of five A321 aircraft, valued separately at US$37 million.
The remaining 51% share remains in the hands of the Cambodian government.
The sale doesn’t have any impact on the airline’s operations, civil aviation ministry spokesman Sin Chansereyvutha said.
"So far, the company has retained all of its human resources, changing only the shareholders."
Despite the challenging conditions, the Cambodian government had no intention of buying out Vietnam Airlines’ share and nationalising the airline.
Cambodia Angkor Air has a codeshare partnership with Vietnam Airlines.
It currently operates on 10 domestic and foreign routes.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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