Tiffany & Son JSC (TiffSon), a company that provides inventory solutions through bartering goods and services, has submitted a bid to the Vietnam Civil Aviation Authority (CAAV) for a Royal Khmer Airlines Boeing 727-200 aircraft abandoned at Hanoi's Noi Bai International Airport since 2007.

Mai Thi ThanhThuy, General Director of TiffSon, told VnExpress that the company was acting as an intermediary for business partners who are planning to convert the aircraft into a restaurant, entertainment facility and advertising space.

The company sent a letter on September 25 and is awaiting feedback from CAAV and the Northern Airports Authority, she said.

However, Vo Huy Cuong, deputy head of the CAAV, said that the agency had not yet received the proposal as of Monday morning.

"Any business has the right to make the proposal for the aircraft. Upon receiving the document, CAAV will report to the Ministry of Transport and await directions," he said.

Cuong said many businesses have bid for the aircraft, but CAAV is yet to be able to sell it because relevant agencies have not yet made a proper valuation.

Previously, a CAAV official had publicly invited valuators to conduct an appraisal, but no one took up the job because of insufficient documentation, Cuong added.

The Boeing 727-200, which belonged to the Royal Khmer Airlines, had run into technical problems after carrying passengers to Noi Bai airport. It did not meet safety conditions to return to Siem Reap, so it has been parked at Noi Bai since May 1, 2007.

The Cambodian airline went bankrupt soon after and left the plane in Hanoi, because it would cost too much to repair. Cambodian authorities have subsequently removed the aircraft from its national registry, allowing CAAV to deal with the asset in accordance with Vietnamese law.

CAAV has proposed two options for handling the abandoned aircraft: auctioning it or handing it over to the Airports Corporation of Vietnam, the state-owned airports operator. Previously, the Vietnam Aviation Academy had also asked for the Boeing 727 to be used as teaching aid, but no decision was taken.