Hanoi cancels Globaltrans Air’s business licence

The Vietnamese Ministry of Transport has cancelled Globaltrans Air’s business licence, a start-up that planned to operate as a business charter specialist but which never completed its certification drive.

Globaltrans Air was incorporated in 2014 and received its business licence in 2015, planning to launch with two Beech (twin turboprop) 200 King Airs. However, it never added any aircraft and thus could not complete its AOC certification drive. In 2018, the authorities extended the licence’s validity, normally set to expire after three years if an airline does not launch, by another three years. In order to secure the renewal of the licence, the airline presented an updated business plan, whose details were never publicly disclosed. In May 2021, as the validity of the extended licence neared its end and the carrier was not nearing launch, the Ministry of Transport moved to cancel the licence.

Globaltrans Air did not provide any comment to the ministry during the licence cancellation procedure.

The start-up had a registered paid-up capital of VND100 billion dong (USD4.4 million) and was 80%-owned by one Nguyen Truong Giang.