A new decree in Vietnam spells out that abandoned aircraft will be seized, auctioned and the proceeds submitted to the treasury.
According to the decree that takes effect on February 24, there are several criteria for an aircraft to be considered abandoned, including when no organization or individual receives it after the court's decision to temporarily seize the aircraft has expired.
In this case, the relevant court is responsible for organizing an auction; and proceeds thereof into the government treasury.
In certain cases, money collected from auctions, after relevant fees have been deducted, will be held in a CAAV (Central Aviation Authority of Vietnam) account. The money will be transferred to the treasury if no individual or organization submits a reimbursement request within three years after the auction.
The decree comes after the discovery of a Royal Khmer Airlines Boeing 727, which was abandoned at the airport in Hanoi more than four years ago.
According to aviation authorities, they had not taken any action deal since the airplane was abandoned at the Noi Bai International Airport in August, 2007, because Vietnam did not have specific regulations on the action to be taken.
A VnExpress newswire report said the aircraft was launched into operation on the route between Siem Reap and Hanoi in the summer of 2007, but was halted very soon after due to technical problems.
Its storage fees have since risen to several billion VND, but the low cost carrier has yet to make any payment.