Private air carriers, including Vietjet Air and Bamboo Airways, have asked for preferential loans to overcome the serious crisis caused by Covid-19. Airlines once again have complained about the difficulties they have faced since the Covid-19 breakout and have asked for urgent help at a workshop on overcoming crisis and sustainable development held by the Vietnam Aviation Business Association (VABA) some days ago. A representative of Vietnam Airlines said the pandemic has wiped out half of revenue of the carrier so far this year. It predicts a consolidated loss of VND14-15 trillion this year and cash flow deficit of VND15 trillion. According to Ho Ngoc Yen Phuong, deputy CEO of Vietjet Air, before the pandemic, the carrier had a high annual growth rate of 30 percent. Because of the pandemic, the revenue has dropped by 70-75 percent. The airline incurred a loss of VND2.4 trillion in the first nine months of the year alone. “Vietjet Air has haf to sell a lot of assets accumulated over many years of operation. We are lacking trillions of dong for business activities,” Phuong said. As for Bamboo Airways, its deputy CEO Le Khac Hai said when the pandemic reached its peak, 80-90 percent… Read full this story
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