Australian Embassy

Australian Ambassador warmly welcomes Qantas investment in Pacific Airlines

Media Release on 26 April 2007

Australian Ambassador warmly welcomes QANTAS investment in Pacific Airlines

HANOI, 26 April 2007 - The Australian Ambassador, H.E. Mr Bill Tweddell, today warmly welcomed the signing of an investment agreement between Qantas and Vietnam’s State Capital Investment Corporation that will see Qantas purchase a 30 per cent stake in Vietnam’s second largest airline, Pacific Airlines.

Ambassador Tweddell said the agreement was “another example of the strong and long-standing commercial relationship between Australia and Vietnam.” Ambassador Tweddell also noted that “Australia is very proud of the many prominent investments made by Australian companies in Vietnam over the years, including in such areas as banking, legal services, telecommunications, insurance and education since the early years of Vietnam’s doi moi reforms.”

Ambassador Tweddell said “Civil aviation is an area where Australian and Vietnam have always had very close links. Not only have the two countries been cooperating on pilot training courses and pilot licensing for many years now, Australian technology also is in operation in Vietnam’s air traffic control systems.”

Ambassador Tweddell noted that he attended the launch of Jetstar’s first flight from Sydney to Ho Chi Minh City in November 2006. He went on to add “Given our history in civil aviation cooperation, today’s deal represents a natural development in the relationship, and also another commercial first for Australia in Vietnam – this time, the first foreign airline to invest in the Vietnamese aviation sector. We wish Qantas, the State Capital Investment Corporation and Pacific Airlines every success in this venture.”