The Board of Directors of Saigon Ground Services Joint Stock Company (SAGS) has approved the establishment of Saigon Ground Services Long Thanh LLC with a charter capital of 333 billion VND, 75% owned by SAGS. The new company will participate in an investment project for the repair and maintenance of aviation equipment at Long Thanh airport, involving two bidding packages on over 7,000 m2, with an estimated value of about 781 billion VND. The implementation timeline is expected to last 18 months, with a project duration of around 24 years and 8 months. Mr. Nguyen Cao Cuong, Chairman of SAGS, will represent SAGS at the new company and also serve as the Chairman of its Member Council. SAGS holds capital contributions from the Vietnam Airports Corporation (ACV) and Vietjet Airlines. Despite achieving a revenue of 1,518 billion VND in 2024, up 4%, and a post-tax profit of 294 billion VND, SAGS has not fully recovered from the pandemic.
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