Vietnam Airlines, which is state-owned, plans to launch an IPO for about 20% of the carrier (ATWOnline, Jan. 3, 2007). Shares will be offered first to employees and Vietnamese investors, according to numerous media reports, with international investors to be offered remaining shares. The Vietnamese government made it clear that it will maintain about an 80% holding in the airline. The IPO may not occur for some time. At this point, the government has given the carrier permission only to hire ...

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