Background Information.

Operates with IATA Airline Code BL and ICAO Airline Code PIC.

Originally formed in 1990 by Vietnam Airlines (40%) and other Vietnam Interests as Pacific Airlines. Vietnam Airlines gradually increased their shareholding to 94% by 2004 and reduced it to 86.49% by 2005.

The company was fully transferred to Vietnam’s Ministry of Finance (State Capital Investment Corporation) in January 21, 2005 for resale to private investors.

Singapore’s Temasek Holdings (majority owner of Singapore Airlines) purchased 30% in June 2005. That shareholding was in turn, on-sold to Saigontourist in 2006.  In February 2007 plans were released to re-launch itself as a budget low cost carrier. An 18% stake was purchased by Jetstar (via Qantas) was announced on April 24, 2007 and completed on July 03, 2007 with intentions to increase it to 49% by 2009.

The airline was re-branded as Jetstar Pacific on May 23, 2008 with the Jetstar/Qantas stake increased to 30% in 2010.