National flag carrier Vietnam Airlines signs a credit deal – worth total of 4 trillion VND (173.7 million USD) – with three commercial banks on July 7. (Photo: Vietnam Airlines)Under the agreement, the Southeast Asia Commercial JointStock Bank (SeABank), the Vietnam Maritime Commercial Joint Stock Bank (MSB)and the Saigon - Hanoi Commercial Joint Stock Bank (SHB) are committed toproviding the carrier with zero-interest loans refinanced by the State Bank ofVietnam.
Despite the recovery of the domestic aviation market,Vietnam Airlines said, it has lost more than 60 percent of revenue due totravel restrictions and border closures induced by COVID-19.
Last year, the airline posted a revenue of over 40.61trillion VND, down 59 percent from 2019.
The carrier operated around 96,500 flights during theyear, a drop of more than 48 percent as compared to the previous year. Itserved 14.23 million passengers and handled nearly 195,000 tonnes of cargo,decreases of 51 percent and 47 percent, respectively.
Vietnam Airlines, which is 86.19 owned by the government,is taking necessary steps to issue 8 trillion VND worth of ordinary shares toexisting shareholders by the end of third quarter of this year./.
VNA
