Digging deeper reveals a series of subtle and unusual points in the sophisticated aircraft acquisition plan of FWC and FWA. Four companies own 4 aircraft: FWA 8906, FWA 8937, FWA 8577, FWA 8592 – named after the factory codes of the 4 aircraft. But the unusual point is that when the above 4 companies were established (October 27, 2021), FWC never bought back loans from banks. These companies were jointly established by Carey Olsen Nominees Jersey Limited – a unit specializing in preparing company establishment documents and representing the true owner of the company at the time of establishment.
Why did FWA even know that it would own the aircraft before the bank sold the assets of the 4 aircraft and named the companies to match the 4 aircraft numbers? Is there a tacit agreement between the general owners of this group of companies, FitzWalter, and the creditor banks of Vietnam Airlines? If so, selling debt to FWC is essentially an aircraft seizure at a cheap price at a time when world aviation is facing the most difficult times.
While waiting for the final decision of the British Court, FWA and Vietnamese Airlines have agreed to temporarily hand over the aircraft on an “as is and in situ” basis to minimize costs and damages. arise. This is also a premise of goodwill to serve the commercial negotiation plan between the two sides so that the aircraft can continue to operate while waiting for the final decision between the parties or the court.
But contrary to the goodwill actions and belief in justice from the Vietnamese airline, FWA immediately after receiving the handover of the aircraft and accompanying technical documents, quickly deregistered Vietnamese nationality. Nam and registered citizenship of Guernsey, a small island, for all 4 aircraft.
FWA wants to “export illegally” 4 aircraft?
Despite registering the aircraft’s nationality to the island of Guernsey, FWA did not apply for an export flight certificate from the Vietnam Aviation Administration in accordance with Vietnamese law. This is the reason why even though the aircraft has been registered with Guersney nationality for more than a year, the Civil Aviation Authority of Vietnam no longer has jurisdiction over aircraft of other nationalities, so it cannot issue export flight certificates according to regulations. specified in Circular 01/2011/TT-BGTVT of the Ministry of Transport.
In a written response to FWA, the Civil Aviation Authority of Vietnam clearly stated that the Civil Aviation Authority no longer has the authority to issue Certificates of airworthiness for export to aircraft that have had their Vietnamese nationality registration removed and registered with the nationality of another country. for FWA. In addition, according to Point a, Clause 1, Article 10 of Decree No. 68/2015/ND-CP, one of the conditions for exporting aircraft is “having a valid export flight certificate issued by a competent state agency”. granting authority”.
To avoid the mandatory procedure of having an aircraft export certificate, FWA asked the Vietnam Aviation Administration for a Ferry flight license (international roaming flight), in order to fly aircraft out of Vietnam in another form. If successful, the tax damage could be hundreds of millions of dollars if the aircraft “does not return” while waiting for the British Court’s decision on aircraft possession.
According to experts, even by ferry, the four aerial aircraft are allowed to be exported from Vietnamese territory. The reason is that according to Clause 4, Article 39 of the 2006 Vietnam Civil Aviation Law, in case the parties believe that the aircraft lease contract has expired, they must carry out “re-export of the leased aircraft” rather than carrying out the contract. Currently flying ferry. In addition, Decree 125/ND-CP of the Government clearly stipulates that the “flight permit” must clearly state the purpose of the flight. If FWA only requests to write the flight purpose as ferry in the flight permit, it is not in accordance with regulations, but must still be Apply for a Certificate of eligibility to fly for export.
Irregularities in the dispute between FWA and Vietnamese airlines show that a new way is emerging to acquire and “illegally export” the assets of Vietnamese enterprises.