The National Assembly allowed the State Bank of Vietnam to re-finance credit institutions that lend additional loans to Vietnam Airlines for its operation. It also permitted the airline to offer additional shares to existing shareholders to increase charter capital. The Government will assign the State Capital Investment Corporation (SCIC) to purchase Vietnam Airlines shares on behalf of the Government. Vietnam Airlines was required to continue with solutions to reduce losses, and pay attention to employees’ interests as the COVID-19 pandemic is yet to show signs of abating. The two COVID-19 outbreaks have dealt a heavy blow to Vietnam Airlines’ operation, causing it a huge loss of VND10.75 trillion from January till September. By September 2020, the firm had transported 10.2 million passengers and just earned nearly VND24 trillion, correspondingly equivalent to 58.8% and 41.7% of passenger numbers and revenue of the same period last year. Vietnam Airlines has submitted … [Read more...] about Vietnam Airlines green-lighted to weather COVID-19 crisis
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The purpose of using loans for Vietnam Airlines is to offset urgent liquidity. To have a source of payment for this loan, it will have to restructure production and business activities, restructure assets, sell aircraft, and divest capital in some subsidiaries. In any case, Vietnam Airlines and also the SCIC have the responsibility to maintain, preserve and develop such financial resources. … [Read more...] about What does the ‘rescue’ of Vietnam Airlines reveal?
Passengers of Vietnam Airlines, Pacific Airlines and VASCO who want to go to Con Dao Island with a transit flight in HCM City will only have to complete flight procedures once. The new rules will be applied for passengers who go from Van Don Airport in Quang Ninh, Noi Bai Airport in Hanoi, Cat Bi Airport in Hai Phong, Tho Xuan Airport in Thanh Hoa, Vinh Airport in Nghe An, Cam Ranh Airport in Khanh Hoa and Danang Airport. All procedures will be completed once at the first airport. The passengers will be given two passes to board the planes for their next flight. At Tan Son Nhat Airport, passengers can go straight to the security checkpoints and then the plane without having to complete more transit procedures. Vietnam Airlines have a total of 18 flights to and from Con Dao every day. This is Vietnam Airlines' busiest flight route at the moment. In the coming time, Vietnam Airlines will continue to simplify the transit procedures at any transit point used by the Vietnam Airlines … [Read more...] about Vietnam Airlines simplifies transit procedures for Con Dao visitors
During winter time, the carrier will operate three flights a week on Tuesdays, Thursdays and Saturdays. The planes will leave Taichung at 8:30 am, arrive in Ho Chi Minh City at 11 am, leave Tan Son Nhat Airport at 11.50 am, and be back in Taichung at 4:20 pm. The timetable of the flights will be very convenient for visitors and businessmen. … [Read more...] about Mandarin airlines opens new route to Vietnam
HCM City (VNA) - Sovico Aviation Holdings Company (Sovico Aviation) has registered to buy 33 million shares of Vietjet Aviation Joint Stock Company (HoSE: VJC). The deal is being carried out between November 12 and December 11, 2020 via put-through and/or order-matching transactions. Such move by Sovico Aviation, Vietjet’s blockholder, shows its confidence in Vietjet’s recovery post COVID-19 due to the airline’s effective and flexible business solutions in response to the ups and downs of the aviation market. Vietnamese airlines’ stocks lifted on November 10, 2020 as investors believed in the rebound of aviation businesses, which are deemed the leverage for other economic sectors. Shares of the two largest Vietnamese airlines – Vietjet (VJC) and Vietnam Airlines (HoSE: HVN) - outstood among other stocks. Vietjet shares hit the ceiling price on November 10, soaring 7 percent to 113,400 VND (approx. 4.8 USD) apiece with asking volume being down to zero … [Read more...] about Sovico Aviation bids for Vietjet shares