Three banks pledge interest-free loans to prop up Vietnam Airways

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Three banks pledge interest-free loans to prop up Vietnam Airways


By Khanh Vu

HANOI, June 21 (Reuters)Three Vietnamese banks have pledged to lend Four trillion dong ($173.eight million) to Vietnam Airways HVN.HM to assist the troubled flag service climate the influence of the pandemic and keep away from chapter, state media reported on Monday.

Vietnam Maritime Industrial Joint Inventory Financial institution MSB.HM, Saigon – Hanoi Industrial Joint Inventory Financial institution SHB.HN and SeABank SSB.HM would make the interest-free loans this month and early subsequent month, the Lao Dong newspaper cited the central financial institution as saying.

Vietnam Airways didn’t instantly reply to a request for remark.

The report stated a plan for Vietnam Airways to problem new shares to its current shareholders to lift funds can be prepared by year-end.

The airline, which is 86% owned by the federal government, reported a web lack of 4.97 trillion dong within the first quarter.

State media final week cited the Ministry of Planning and Funding as saying the airline would probably make a web lack of 10 trillion dong within the first half of this yr and was getting ready to chapter.

Vietnam Airways earlier this month stated it could promote 11 Airbus AIR.PA A321 plane by means of an public sale.

($1 = 23,015 dong)

(Reporting by Khanh Vu; Modifying by Martin Petty and Ed Davies)

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