HANOI, June 21 (Reuters) - Three Vietnamese banks have
pledged to lend 4 trillion dong ($173.8 million) to Vietnam
Airlines to help the troubled flag carrier weather the
impact of the pandemic and avoid bankruptcy, state media
reported on Monday.
Vietnam Maritime Commercial Joint Stock Bank,
Saigon - Hanoi Commercial Joint Stock Bank and SeABank
would make the interest-free loans this month and early
next month, the Lao Dong newspaper cited the central bank as
Vietnam Airlines did not immediately respond to a request
The report said a plan for Vietnam Airlines to issue new
shares to its existing shareholders to raise funds would be
ready by year-end.
The airline, which is 86% owned by the government, reported
a net loss of 4.97 trillion dong in the first quarter.
State media last week cited the Ministry of Planning and
Investment as saying the airline would likely make a net loss of
10 trillion dong in the first half of this year and was on the
brink of bankruptcy.
Vietnam Airlines earlier this month said it would sell 11
Airbus A321 aircraft through an auction.
($1 = 23,015 dong)
(Reporting by Khanh Vu; Editing by Martin Petty and Ed Davies)