Airlines in Vietnam have asked the central government to continue providing favorable policies and assistance to help them maintain their business operations during the current difficult time. A national conference on the sustainable development of Vietnam’s aviation industry was organized by the Vietnam Aviation Business Association and Institute of Socio-Economy and Technology on Thursday. At the event, representatives of local airlines suggested that the government continue supporting them in terms of taxes, fees, and soft loans. According to Ho Ngoc Yen Phuong, deputy director of budget carrier Vietjet, the airline suffered losses worth VND2.4 trillion (US$104 million) in the first nine months of this year due to the COVID-19 epidemic. Vietjet had to sell many of the assets accumulated over the previous years to reduce losses, Phuong added. In many other countries, governments have provided local airlines with preferential loans to survive the COVID-19 pandemic. What Vietjet needs the most right now is to increase its cash flow, Phuong stated. “We are looking forward to a three- to five-year loan provided by the state bank’s refinancing resources,” she added. In order to cope with the challenges, the carrier has had to apply hourly rate payments to pilots and cut the salary of… Read full this story
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