Travel firm acquires private airlines in Vietnam Thien Minh Tourism JSC (TMG) recently announced that it has bought an 89% stake in Hai Au Airlines, a private Vietnamese airline.   Two seaplanes to be operational next April TMG said on October 14 that it would start operation of the airline next year with a registered capital of VND60 billion (USD2.84 million). TMG’s leaders said they would buy two seaplanes that would be put into operation in April, 2014. The 12-seat seaplanes would be used for sightseeing on Ha Long Bay and provide air taxi and other services upon passengers’ demand. The services are estimated to cost between VND2.5 million and VND3 million (USD11.4-USD142), depending on the flight timetables. A flight would last from 15 to 50 minutes with the expected passengers mainly being foreign tourists. Currently, private airlines in Vietnam are facing fierce competition due to the monopoly of the state-owned Vietnam Airlines. In 2009, Indochina Airlines was the fifth airline in Vietnam to halt operations due to financial difficulties. Indochina Airlines was the second private airlines licensed in Vietnam after Vietjet Air. TMG also owns Victoria hotel chains  Source: TP, dtinews.vn