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Wednesday, December 25, 2024

SeABank funds Vietnam Airlines recovery with $87 mln loan

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SeABank funds Vietnam Airlines recovery with $87 mln loan
A Vietnam Airlines plane is seen at Tan Son Nhat Worldwide Airport in Ho Chi Minh Metropolis in January 2021. Picture by VnExpress/Quynh Tran.

Non-public lender SeABank will present a zero-interest mortgage of VND2 trillion ($87.19 million) to Vietnam Airlines to avoid wasting the provider from the chapter.

A part of the cash will probably be disbursed this month, the nationwide flag provider acknowledged.

That is 50% of a refinancing bundle value VND4 trillion ($174 million) the federal government has permitted to help Vietnam Airlines, which has VND20 trillion in debt because of the Covid-19 pandemic.

The remaining sum will come from two different lenders, SHB and MSB.

Vietnam Airlines has additionally been permitted to situation new shares to present shareholders to lift VND8 trillion. That is set to happen within the final quarter.

Its HVN ticker on the Ho Chi Minh Stock Exchange has been put below warning since April 15 resulting from plummeting monetary figures.

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Rachel Ha
Industrial and agricultural product enthusiast. Expert on Vietnam economy. Focus on FTA agreements between Vietnam and other countries.
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