• Vietnam Airlines to raise new capital to overcome Covid-19 losses | News

    Vietnam Airlines has confirmed it will issue nearly US$346 million in new shares to existing stakeholders. The move comes as the flag-carrier seeks to accelerate its recovery from the impact of the Covid-19 pandemic and return to profitability by 2023. The issuance will be completed by June next year. Vietnam Airlines – considered the World’s Leading Cultural Airline by voters at the World Travel Awards – received approval for the issue from the authorities earlier. All capital raised will be used to pay off outstanding debts, its chairman Dang Ngoc Hoa said at a regular shareholder meeting. Due to the Covid-19 pandemic, the carrier expected to make losses of around…