Vietnam Airlines green-lighted to weather COVID-19 crisis The National Assembly on November 17 endorsed a Government proposal to help national flag carrier Vietnam Airlines weather the COVID-19 crisis. The Government will assign the State Capital Investment Corporation (SCIC) to purchase Vietnam Airlines shares on behalf of the Government. Vietnam Airlines was required to continue with solutions to reduce losses, and pay attention to employees’ interests as the COVID-19 pandemic is yet to show signs of abating. The two COVID-19 outbreaks have dealt a heavy blow to Vietnam Airlines’ operation, causing it a huge loss of VND10.75 trillion from January till September. By September 2020, the firm had transported 10.2 million passengers and just earned nearly VND24 trillion, correspondingly equivalent to 58.8% and 41.7% of passenger numbers and revenue of the same period last year. Vietnam Airlines has submitted proposals to relevant State agencies, appealing for a relief package worth VND12 trillion to survive the crisis. Vietnam Airlines was said to get VND4 trillion worth of additional loans for its operation. However, the NA Standing Committee maintained that it is the government that has the authority to resolve the airline’s difficulty. Toyota Tsusho acquires 35 per cent of Vinaconex subsidary Toyota’s… Read full this story
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