Vietnam Airlines may face bankruptcy in July
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Civil Aviation Resources Network, June 26, 2024: According to foreign media reports, Vietnam Airlines may face a bankruptcy crisis in July. If the repayment period of the loan supported by the Vietnamese government cannot be extended, the airline will enter a situation of "insolvency".
According to a statement issued by the Vietnam Economic Committee on the 25th, the situation of Vietnam Airlines is quite urgent, and the relevant departments of Vietnam are urged to take prompt action.
Due to the delay in approval by the regulatory authorities, Vietnam Airlines was unable to implement refinancing measures such as new share sales and readjustment of non-core investments, and fell into a financial crisis.
It is reported that Vietnam Airlines had previously obtained a loan of 4 trillion Vietnamese dong from the bank.
In this regard, the Vietnamese government stated that if the loan repayment period is not extended, Vietnam Airlines may face major risks, legal proceedings and reputational damage. "This is just one of the solutions to help Vietnam Airlines overcome difficulties, but it is the most feasible and suitable solution at this stage." The Vietnamese government suggested that members of parliament extend the repayment period to December 31, 2027 to give Vietnam Airlines time to reorganize.