Vietnam

A surprise return to profit has propelled Vietnam Airlines JSC to become the world’s best performing airline stock this year, shrugging off the risk of bankruptcy as the company’s post-pandemic recovery finally picks up momentum, Bloomberg News reported. The state-owned carrier has rallied 179% so far in 2024, lifted by a rebound in travel demand. That steered the company to post a bumper first quarter profit after more than four years of consecutive losses.
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National carrier Vietnam Airlines JSC is facing the risk of losing liquidity as early as July if the refinancing loan repayment deadline for its government-backed loan is not extended, the government said on Tuesday, Reuters reported. The airline, which received 4 trillion dong ($157 million) in low-cost loans from commercial banks that were refinanced at a zero interest rate by the central bank in 2021, is grappling with financial difficulties due to the impact of the pandemic, the government said in a statement.
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