Vietnam Air Gets Loan Extension to Avoid Insolvency Risk

Vietnam’s National Assembly approved an extension for Vietnam Airlines’ 4 trillion dong ($157 million) state-backed loans through July 2027 to give the financially struggling national carrier time to reorganize its operations, according to information from the parliament.

The airline was at risk of insolvency without the extension, according to a statement earlier this week on the National Assembly’s website. The carrier had yet to complete refinancing efforts, such as restructuring non-core investments and sales of new shares, due to delays in regulatory approvals, according to the statement.