Vietnam Airways to boost new capital to beat Covid-19 losses | Information

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

Vietnam Airways has confirmed it would concern practically US$346 million in new shares to current stakeholders.

The transfer comes because the flag-carrier seeks to speed up its restoration from the affect of the Covid-19 pandemic and return to profitability by 2023.

The issuance might be accomplished by June subsequent 12 months.

Vietnam Airways – thought-about the World’s Leading Cultural Airline by voters on the World Travel Awards – acquired approval for the problem from the authorities earlier.

All capital raised might be used to repay excellent money owed, its chairman Dang Ngoc Hoa mentioned at a daily shareholder assembly.

Because of the Covid-19 pandemic, the provider anticipated to make losses of round US$625 million this 12 months.

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