Vietnam Airlines needs liquidity support by end of August: CEO

Vietnam Airlines will need liquidity support by the end of August, the airline’s CE Duong Tri Thanh has said. Speaking Monday with the Vietnamwhich Cirium did not attend, Thanh said his airline has lost D50t ($2.15b) in revenue this year. A report about the meeting was published on 14 July on the Vietnamese government’s news website. Nguyen Duc Kien, head of the economic advisory group, said the group will “propose solutions such as refinancing, bridging loans, issuing shares to increase capital or transfer capital” to help Vietnam Airlines overcome financial difficulties. Meanwhile, Vietnamese news site VnExpress International reported on 14 July that Thanh said at the same meeting that Vietnam Airlines is seeking an urgent D12t bailout from the government. The report added that the airline is likely to report a loss of D13t this year, with revenues falling by half from last year to around D50t. Those details were not mentioned in the 14 July report on the government news website.<br/>