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Vietnam's first cargo-only air carrier scrubs launch on weak outlook

Local conglomerate IPPG had aimed for a 2022 start

IPPG has withdrawn its application for government approval. (Photo courtesy of IPPG)

HANOI -- One of Vietnam's biggest conglomerates has given up on launching the nation's first domestically owned and operated cargo-only air carrier as signs of a global recession threaten to depress demand in the sector.

The decision was made to avoid harming other cargo airlines already suffering losses, IMEX Pan Pacific Group (IPPG) Chairman Jonathan Hanh Nguyen told local media.

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