Hot on the heels of Vietnam’s latest airline, Bamboo Airways, the Vietnamese Vingroup is due to start a sixth airline in the country – Vinpearl Air.

The steady rise in tourism in Vietnam has seen the nation’s aviation industry grow by 17.4% in the last ten years, making it one of the world’s fastest growing aviation industries. In addition, Vietnam recently received a category one safety rating from the US Federal Aviation Administration. It’s these recommendations that Vinpearl Air will capitalise on prior to launching its routes.

Vinpearl Air is the latest airline to be launched in Vietnam and joins Vietnam Airlines, Jetstar Pacific, Vietjet Air, Vasco and recently launched Bamboo Airways.

The new airline has three founding shareholders according to Vietnam News. VinAsia Tourism Development owns 45%, Hoang Quoc Thuy owns 30% and Pham Khac Phuong owns the remaining 25%. The airline has registered as having a start-up capital of VND1.3 trillion, which is the amount of capital required to have a fleet of more than 30 aircraft in operation.

Vinpearl has signed an agreement to train its employees locally. This has been accomplished in an agreement with CAE which will manage two schools in the country. VinAviation School will be responsible for pilot training, while Vinpearl Air Training Centre will cater to the other aviation careers.