Vietnam Airlines to raise new capital to overcome Covid-19 losses | News

Vietnam Airlines has confirmed it will issue just about US$346 million in new shares to current stakeholders.

The go will come as the flag-provider seeks to speed up its restoration from the impact of the Covid-19 pandemic and return to profitability by 2023.

The issuance will be accomplished by June following calendar year.

Vietnam Airlines – viewed as the World’s Main Cultural Airline by voters at the World Vacation Awards – acquired approval for the difficulty from the authorities earlier.

All funds lifted will be utilised to shell out off excellent debts, its chairman Dang Ngoc Hoa explained at a regular shareholder assembly.

Thanks to the Covid-19 pandemic, the carrier expected to make losses of all-around US$625 million this calendar year.

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