Vietnam Airlines shares at heightened risk of delisting
2022-09-11 – 23:27 UTC
Shares of Vietnam Airlines (VN, Hanoi) are at risk of delisting again, after the Ho Chi Minh City Stock Exchange sent a notice to the flag carrier to that effect on September 8.
Shares of a public company are subject to delisting in Viet Nam if it suffers losses for three consecutive years, or if the cumulative total loss exceeds the contributed share capital, or if its equity is negative.
Vietnam Airlines suffered losses of nearly 11 trillion VND (467 million USD) in 2020 and 13 trillion VND (552 million USD) in 2021, while the recently released half-yearly consolidated financial statements for 2022 highlighted light a new net loss exceeding 5,100 billion dong (217 million USD). ).
By the end of the second quarter, it had accumulated losses of around VND29 trillion ($1.23 billion) and its equity was negative VND4.9 trillion ($208 million). Liabilities exceeded assets by 36.44 trillion VND ($1.55 billion) and outstanding payments amounted to more than 14.85 trillion VND ($637 million). Deloitte Vietnam warned in the report that the carrier may struggle to maintain operations….
Vietnam Airlines strives to reorganize B787 and A320 deliveries
05.09.2022 – 23:16 UTC
As it scrambles to find ways to cut costs and secure new revenue streams, with renewed doubts about its ability to continue operating, Vietnam Airlines (VN, Hanoi) negotiates to cancel the delivery of four Boeing B787 and Airbus A320 and also postpone delivery. five other new aircraft until the end of 2022 and 2023 instead of 2020-21 as initially agreed.
The struggling national airline, which secured a 12 trillion dong ($513 million) bailout last year while struggling with around 20 trillion dong ($854 million) of debt, has also sold an aircraft, transferred purchase and lease rights recovered an engine and liquidated its investment in Cambodia Angkor Air (K6, Siem Reap), it summarized in its latest financial statements, covering the first half of the year. 2022. These moves earned him more than 860 billion VND ($36.8 million).
Vietnam Airlines said it continues to seek other sources of revenue, including further downsizing its fleet, selling more engines and offloading financial investments.
According to ch-aviation…
Vietnam Airlines will add two converted A321 freighters
11.08.2022 – 01:23 UTC
Vietnam Airlines (VN, Hanoi) will enter the dedicated cargo market, having signed an agreement with Air Transport Services Group for the sale, P2F conversion and leaseback of two A321-200s.
“We’re buying two A321s from them. We’re converting them into freighters and leasing them to them,” ATSG chief executive and chairman Rich Corrado said on the holding company’s quarterly earnings conference call.
Commercial director Mike Berger added that the plane will be delivered again to Vietnam Airlines in 2023. The ATSG did not reveal which STC to use.
The advanced ch-aviation fleets shows that Vietnam Airlines operates forty-eight A321-200s, all but three of which are owned by the carrier. The airline is gradually transitioning to a narrow-body fleet of the A320neo family. According to its January 2022 request for proposals, the two converted A321-200s will be of the 2007 model year, of which six of the carrier’s A321s were built that year. Vietnam Airlines did not respond to ch-aviation’s request for specific identification of the two…