Vietnam’s State Capital Investment Corp (SCIC) is ready to inject more money into Vietnam Airlines to help the flag carrier weather the impact of the coronavirus pandemic, SCIC’s deputy chief executive officer said on Tuesday.
“The investment is pending a government decision,” Dinh Viet Tung said by telephone, declining to give further details.
State broadcaster VTV cited Tung as saying that SCIC could invest up to 6.8 trillion dong ($293.44 million) to buy new shares. Vietnam Airlines is 86% owned by the government via the Commission for the Management of State Capital at Enterprises.
Vietnam Airlines last month reported a net loss of $453 million in the first nine months of this year due to the coronavirus pandemic.
Reporting by Khanh Vu Editing by Ed Davies, @Reuters
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Source: Vietnam Insider