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All procedures and requirements will be completed so that the airline can go into operation in July 2020. Vinpearl Air selected Noi Bai International Airport in Hanoi as its base and overnight parking slots during the first year as it will operate at Noi Bai, Cam Ranh, Cat Bi, Danang and Van Don airports.
Vinpearl Air plans to implement various methods to bolster its aircraft sources such as implementing both a wet lease, a leasing arrangement whereby one airline provides an aircraft, complete crew, maintenance, and insurance to another airline, and a dry lease, a leasing arrangement whereby an aircraft provides an aircraft without crew.
The ministry's project evaluation report pointed out that the project has a payback period of five to six years. It will start being profitable from 2023. Vinpearl Air will contribute VND1trn (USD43m) of tax to the state budget every year to 2024. The report addressed factors that will affect the project like changes in macroeconomic policy, currency exchange rates and competition with other carriers.
However, the ministry also said that financial performance assessments are preliminary with hypothetical data because Noi Bai Airport will run out of parking slots soon and Tan Son Nhat Airport no longer has parking slots until 2022. The project can be affected by various factors. Vinpearl Air Company was asked to calculate everything carefully, predict as many affecting factors as possible, and learn from other carriers to improve competitiveness.
