Vietnam’s National Assembly approved an extension for Vietnam Airlines’ 4t dong ($157m) state-backed loans through July 2027 to give the financially struggling national carrier time to reorganize its operations, according to information from the parliament. The airline was at risk of insolvency without the extension, according to a statement earlier this week on the National Assembly’s website. The carrier had yet to complete refinancing efforts, such as restructuring non-core investments and sales of new shares, due to delays in regulatory approvals, according to the statement. Parliament ordered the Commission for the Management of State Capital at Enterprises, relevant authorities and Vietnam Airlines “to work on a comprehensive development strategy and soon finalize measures to deal with the carrier’s difficulties so that it can recover and restructure,” the legislature’s Chief Administrator Bui Van Cuong told delegates at the closing session Saturday. The national carrier struggled through the Covid-19 pandemic, which “had much more complicated impact and lasted longer than forecast, causing extremely severe consequences for the airline,” the government said in a statement on the parliament’s website. <br/>