VNI is the only foreign shareholder in VALC
, a company which has been producing stable dividends of 22% of par value (17% dividend yield on current NAV) over the past two years of full scale operation.
VALC seeks to lessen the country's dependency on international airlines by increasing the number of aircraft owned by a Vietnamese company.
Cavico's partners in VALC include the Bank for Investment and Development of Vietnam (BIDV), Petro Vietnam and Vietnam Airlines.
4 to the agreement dated March 10, 2014 for additional works, concluded with VALC
VN will take the A350s and 10 A321s while VALC
will acquire the remaining A321s.