Vietnamese private airline VietJet Air (VJA) is finalising necessary paperwork for its coming initial public offering (IPO), which is scheduled to be launched in Viet Nam by the end 2015.

Audit work in preparation for the IPO of the budget airline is being completed so that the firm can begin selling its shares to the public in Viet Nam, instead of in an overseas market like Hong Kong or Singapore as previously planned, the source said.

Passengers disembark from a VietJet Air plane. Tuoi Tre

VJA CEO Luu Duc Khanh said the company earned more than VND5.7 trillion (US$255 million), a 205% year-on-year surge, in the first 6 months of 2015.

The International Air Transport Association (IATA) awarded the IATA Operational Safety Audit (IOSA) safety certificate to the company.

The IOSA program is an internationally recognized and accepted evaluation system designed to assess the operational management and control systems of an airline.

The proceeds from the IPO will be used for VJA’s new aircraft purchase plan.

(Source: tuoitrenews)