Bao Viet provides services for Indochina Airlines

Bao Viet Insurance Corporation and Indochina Airlines, the first private airline of Vietnam, have signed contracts for insurance, risk management, consulting services, and training.

Bao Viet will insure passengers, cargo, luggage and postal items up to USD 600 million per claim and flight attendants up to USD 75,000 per person.

Currently, the air carrier is wet-leasing aircraft, meaning leases of both aircraft and pilots. Under the agreement between the two parties, once Indochina Airlines begins to dry-lease aircraft without pilots, Bao Viet Insurance will provide the airline with all kinds of traditional insurance policies such as aircraft hull insurance and the third party liability insurance.

Bao Viet also expects to provide non-life insurance to the partner.

The air carrier currently operates four HCMC - Hanoi flights and two HCMC - Danang flights a day, and says it will improve flight network from HCMC and Hanoi to other big cities such as Danang, Hue, Dalat, and Nha Trang with an aim to transport one million passengers a year.

The airline is wet-leasing two Boeing 837-NG with 174 seats each. It plans to dry-lease the two aircraft within one year and has a fleet of seven to ten aircraft by 2013.

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