Logo of Phnom Penh Post newspaper Phnom Penh Post - CAA turning a profit, says PM Hun Sen

CAA turning a profit, says PM Hun Sen

CAA turning a profit, says PM Hun Sen

PRIME Minister Hun Sen said Thursday that Cambodia Angkor Air (CAA) was turning a profit ahead of schedule, with a top aviation official adding that the national carrier was operating at near capacity.

“We expected the airline to make losses for two years, but now this airline is making profit because a lot of passengers are using it,” Hun Sen said, without giving any figures.

Soy Sokhan, undersecretary of state in charge of CAA at the State Secretariat of Civil Aviation, also did not give earnings figures. But he said the five-month-old airline had boosted its load factor from a low of 25 percent in July to between 80 percent and 90 percent – pushing the airline into the black.

The US$100 million joint venture between the government and Vietnam Airlines made its maiden flight July 28.

Its main route between Phnom Penh and Siem Reap was initially shared with Bangkok Airways, but the Thai-based carrier’s licence to fly domestic routes was not renewed when it expired on October 25, giving CAA a monopoly. CAA also flies to Ho Chi Minh City.

MOST VIEWED

  • Proof giants walked among us humans?

    For years a debate has waged about whether certain bas relief carvings at the 12th-century To Prohm Temple, one of the most popular attractions at the Angkor Wat Temple Complex in Siem Reap province, depicted dinosaurs or some rather less exotic and more contemporary animal,

  • New US bill ‘is a violation of Cambodian independence’

    After a US congressmen introduced bipartisan legislation that will enact sanctions on Cambodian officials responsible for “undermining democracy” in the Kingdom, government officials and the ruling Cambodian People’s Party on Sunday said they regarded the potential action as the “violation of independence and sovereignty

  • Long way to go before Cambodia gets a ‘smart city’

    Phnom Penh, Siem Reap and Battambang will struggle to attain smart city status without adopting far reaching master plans, according to officials tasked with implementing the program. The brainchild of the Association of Southeast Asian Nations (Asean), the smart city program seeks to link up

  • Japan bank buys major stake in ANZ Royal Bank

    Japan's largest bank acquired more than half of ANZ’s shares in Cambodia on Thursday, according to a statement from Kith Meng’s Royal Group. Japan's JTrust Bank, announced that they had acquired a 55% of stake in ANZ Royal Bank. According to a Royal Group