Imex Pan Pacific Group (IPPG) – a Vietnam’s pioneer luxury retail platform is developing the nation’s first all-cargo airline known as IPP Air Cargo. With an expected date of operation to start in 2022, the initiative is set in motion to leverage on the rising demand in the nation’s freight market.
The project is said to capitalise a total of 2.4 trillion dong ($104 million) with 30% stake for IPPG and the rest open for investors. With an increase of 28% in the nation export markets, the company is considering partnership with foreign companies in dominating the Vietnamese fruit and frozen seafood export market.
Johnathan Hanh Nguyen, Chairman of IPPG said that exporting business are facing setbacks due to the lack of competition in the air freight market, as well as high transport costs. The Chairman has also indicated the company’s intent to introduce lower shipping rates in the market.
IPP Air Cargo routes include connecting domestic airports to Noi Bai International in Hanoi and to Tan Son Nhat International in Ho Chi Minh City.
, Vietnam's pioneer luxury retail platform, is establishing IPP Air Cargo, the country's first all-cargo airline.){kind=link}