By Khanh Vu HANOI, Jan 14 (Reuters) - Vietnamese finances p
By Khanh Vu
HANOI, Jan 14 (Reuters) – Vietnamese finances provider VietJet Aviation VJC.HMplans to develop its funding in new plane and technical amenities this yr after reporting a small revenue in 2020 regardless of the coronavirus pandemic, its chief government officer stated.
“In 2021, we anticipate to proceed to obtain new fashionable planes and can spend money on upkeep and coaching amenities, and the funding might be larger than in 2020,” VietJet President and CEO Nguyen Thi Phuong Thao stated in an interview recorded on Jan. 9 and broadcast on Thursday on the Reuters Subsequent convention.
VietJet stated individually on Wednesday it raised $28 million through a bond issuance final month to fund its improvement plans in 2021. It didn’t present additional particulars in regards to the bond sale.
Vietnam has been profitable in containing the coronavirus with a collection of quarantine and monitoring measures. With simply over 1,500 infections and 35 deaths in complete, it has resumed financial actions sooner than a lot of Asia.
Whereas all worldwide industrial flights have been suspended since late March, home air journey has been subjected to few restrictions.
VietJet’s cargo transport in 2020 rose 75% from 2019, she stated, including that its general home operations recorded constructive progress in 2020, with out giving comparative figures.
With the early COVID-19 vaccine roll-out around the globe, Thao expects the worldwide aviation trade to get better quickly.
Vietjet’s Thai unit elevated its plane fleet to 15 final yr, whereas its market share there additionally elevated, she added.
“Air journey demand is extraordinarily excessive for enterprise, funding, schooling and healthcare functions, and now we have been actively conducting flights to repatriate Vietnamese individuals from abroad,” Thao stated.
She stated the corporate is contemplating choices to boost funds for its funding plans for this yr, although she didn’t title an quantity.
“Our debt-to-equity ratio is 1.0, in contrast with over 3.Zero for the aviation trade, so now we have room to mobilise funds for our improvement,” Thao stated.
The airline continued to take supply of Airbus SE AIR.PA narrowbody jets final yr regardless of some provide chain interruptions on the producer however Boeing Co BA.N didn’t meet its supply schedule, she stated.
VietJet has 200 737 MAX jets on order, in accordance with Boeing, however the airplane has not but returned to service in Asia following a close to two-year world grounding.
For extra protection from the Reuters Subsequent convention please click on right here www.reuters.com/enterprise/reuters-next
($1 = 23,050 dong)
(Reporting by Khanh Vu; extra reporting by Jamie Freed in Sydney)
(([email protected]; +84 24 38259623;))
The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.