Vietnam-based luxury goods retail firm Imex Pan Pacific Group (IPPG) has in partnership with other companies established a logistics business to support its soon to launch air cargo carrier.
IPPG said the new business, Bellazio Logistics, would primarily offer warehousing and storage of goods but would also provide road transport and cargo handling.
IPPG accounts for 51% of Bellazio Logistics' charter capital with Sasco holding 10%, Viettel Post 10%, Vietnam Post 10%, Bellazio Trading Online 10%, and new air cargo carrier IPP Air Cargo with 9%.
"In each locality, Bellazio Logistics will manage small warehouses connected to IPP Air Cargo," IPPG said.
Earlier this month, the company said that IPP Air Cargo is moving closer to launch.
IPPG chairman Johnathan Hanh Nguyen previously explained that Vietnam’s air cargo market is dominated by foreign airlines, which have a market share of around 88%.
However, he said that under current rules foreign carriers are only able to import goods into two airports: Ho Chi Minh’s Tan Son Nhat International and Hanoi’s Noi Bai.
The airline will offer international flights and domestic services to and from 16 airports in the country, services which he hopes foreign carriers will also utilise.
IPP Air Cargo wants to operate five cargo aircraft in the first year, then gradually increase to seven aircraft in the second year and 10 aircraft in the third year.
