Vietnam Airlines on track for IPO this year: reports

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Vietnam Airlines is said to be gearing up for an initial public offering (IPO) later this year.

According to local media reports, the country's transport minister Dinh La Thang has decided that the SkyTeam member airline must complete its IPO process by the end of the year.

Previous reports also indicated that the state-owned airline is selling shares in a number of unrelated businesses and restructuring its subsidiaries ahead of an IPO.

Vietnam Airlines declined to comment when contacted by Flightglobal Pro. An airline spokeswoman said that "all concerned information is still confidential to the public".

In an interview with Flightglobal Pro last year, the airline's chief executive Pham Ngoc Minh had said that the carrier is targeting to have its IPO in the second half of 2013, and that it was making administrative preparations.

He would not say how much of the company's shares would be listed, or what is the target amount to be raised from the share sale.

Vietnam Airlines has a fleet of 79 aircraft, including Airbus A321s, Boeing 777-200s and ATR 72s. It also has 39 aircraft on order, including 16 787-9s, 10 A350-900s and 13 A321s.