Vietnam Airlines overdue debts surpass $578 mln

A Vietnam Airlines aircraft is seen at Tan Son Nhat International Airport in Ho Chi Minh City in January 2021. Photo by VnExpress/Quynh Tran.

Vietnam Airlines had posted overdue debts of more than VND13.3 trillion (nearly $578.3 million), including nearly VND7.1 trillion for aircraft rentals, as of late June.

The national flag carrier’s management board has approved a plan on issuing 800 million shares with a price of VND10,000 each to existing shareholders. After getting approval from State Securities Commission, the carrier would issue the shares this year.

After the share issuance, Vietnam Airlines will raise VND8 trillion to pay due debts of VND2.05 trillion to credit institutions, and due and overdue debts of VND3.95 trillion to its partners and suppliers, increase working capital to maintain production and business amid the Covid-19 outbreak, and repay bank loans totaling VND2 trillion due in 2022.

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