Skip to main content

Advertisement

Advertisement

Business

Vietnam Airlines to issue US$346 million worth of shares to raise capital

Vietnam Airlines to issue US$346 million worth of shares to raise capital

A Vietnam Airlines Airbus A350 passenger jet comes in to land at London Heathrow Airport in west London, on May 10, 2020. (Photo: AFP/Adrian DENNIS)

HANOI: Flag carrier Vietnam Airlines said on Tuesday (Dec 29) it would issue nearly US$346 million worth of shares for existing stakeholders to boost its recovery from the impacts of the coronavirus pandemic and return to profitability by 2023.

The issuance will be completed by June next year after the carrier received approval from the authorities. All capital raised would pay off outstanding debts, its chairman Dang Ngoc Hoa said at a regular shareholder meeting.

Due to the COVID-19 pandemic, the carrier expected to make losses of 14.445 trillion dong (US$624.65 million), about 2.4 trillion dong less than previously expected, Hoa added. 

Source: Reuters/kv

Advertisement

Also worth reading

Advertisement