Vietnamese low-cost carrier Vietjet Air has grown its stake in Saigon Ground Services (SAGS) as part of its plan to diversify its portfolio, according to reports.
Air Transport World reports that it makes the airline the third-largest shareholder in the company. It was reportedly part of an investment of VND141 billion ($6.05 million).
Vietjet Air reportedly took an additional 5.17 per cent of SAGS, bringing its total stake to 9.11 per cent. Airports Corporation of Vietnam holds 48 per cent of the company and Saigon Securities has a 15 per cent stake.
SAGS provides ground handling services to around 50 airlines at three of Vietnam’s busiest gateways in Ho Chi Minh City’s Tan Son Nhat, Da Nang and Cam Ranh.