News
Vietnam Airlines receives US$87 million loan as it falters from COVID-19
July 7th 2021
Vietnam Airlines has secured a two trillion dong (US$87 million) loan from Southeast Asia Commercial Joint Stock Bank (SeAbank) to shore up its finances from the impact of the coronavirus pandemic, local media has reported. Read More » The loan represents 50% of four trillion dong in funds extended to the carrier in June by SeAbank and two other Vietnamese lenders. It is expected Vietnam Maritime Commercial Joint Stock Bank and Saigon - Hanoi Commercial Joint Stock Bank will provide the remaining two trillion dong requested by the flag carrier. In May, Vietnam Airlines Group - Vietnam Airlines, LCC Pacific Airlines and Vietnam Air Services Company (VASC), reported an after-tax loss of 4.975 trillion dong for the three months to March 31, 2021, down 90% from an after-tax loss of 2.6 trillion dong 12 months ago. The company is planning to raise more funds through the issuing of new shares.
