VIETNAM. Changi Airports International (CAI) has agreed a landmark deal with Cam Ranh International Joint Stock Company (CRTC) to manage Cam Ranh International Terminal 2, develop its non-aeronautical businesses and support international route development.
The agreement runs for five years with a five-year extension option.
The deal is the first under a cooperation framework between CAI and its partner Legacy Infrastructure.
This combines the international expertise of CAI as a global airport consultant, manager and investor, as well as the regional influence and resources of Legacy. The partners said the collaboration will “bring innovative solutions to the Vietnam aviation industry, enhancing connectivity, efficiency and international competitiveness”.
Cam Ranh International Airport, the fourth-busiest international airport in Vietnam, serves Nha Trang City and the Khanh Hoa province, an important tourist destination for Vietnam.
CAI said it will work with CRTC to accelerate the revenue growth and enhance the passenger experience at Terminal 2.
The terminal, wholly owned by CRTC, has more than 30 airline partners and is connected to more than 100 destinations. The agreement will pave the way for the airport to increase connectivity to major airports worldwide and attract international partners, enhancing CRTC’s competitiveness and attractiveness.
CAI Chief Executive Officer Eugene Gan said: “Cam Ranh International Airport, which welcomed 6.5 million international visitors in 2019 before the pandemic and was the fourth-busiest international airport in Vietnam, is undoubtedly one of the driving factors for the tourism development of Nha Trang.
“We are excited to apply the experience we have gained over the years to work with our valued partners and uplift the passenger experience at Cam Ranh International Airport, helping to further grow its potential as one of the leading airports in Vietnam.”
CRTC Chairman Johnathan Nguyen is a pioneering figure in the Vietnam aviation, travel and travel retail sector, and well known as Founder & Chairman of Imex Pan Pacific (IPP) Group and Chairman of Southern Airports Services Joint Stock Company (SASCO). IPP Travel Retail will host The Trinity Forum 2024 in Ho Chi Minh City, as reported.
Of the agreement with CAI, Nguyen said: “Singapore Changi Airport is one of the world’s leading airports, known for its exceptional service quality. The partnership between Changi Airports International (CAI) and Cam Ranh International Terminal marks a significant milestone, offering many aspects for improving service quality, putting advanced modern technology into practice, and helping CRTC to rapidly connect with airlines and airports over the world.
“The successful model of management cooperation between CRTC and CAI will be the first of its kind that CAI implements in Vietnam, opening up great opportunities for both parties in the field of airport operations and realising the vision of Imex Pan Pacific Group (IPPG) for strategic collaborations in Vietnam and other countries.”
Legacy Chief Executive Officer Hong Dijun said: “Following extensive regional analysis, Legacy Group has identified Vietnam as a pivotal strategic market in Asia. We are committed to contributing to Vietnam’s rapid growth and plan to unveil four additional infrastructure projects by the end of the fiscal year, with a combined contract value exceeding US$2 billion.
“In the aviation sector specifically, through Mr Nicholas Duong, Legacy has discerned IPPG as a trusted and respected aviation ally to inaugurate this collaborative venture. Mr Johnathan is renowned for his illustrious contributions to the aviation industry and his advocacy for cutting-edge reforms.
“Legacy is proud to bring together this collaboration and reaffirms our dedication to invest and continue fostering partnerships with world-class experts and strategic allies to further enhance the country’s infrastructure landscape.” ✈
