HCM CITY — Prime Minister Phạm Minh Chính has urged agencies to develop a ‘comprehensive plan’ to tackle the financial challenges faced by lossmaking national flag carrier Vietnam Airlines. Vietnam Airlines reported losses of VNĐ11 trillion ($458 million) in 2022 and VNĐ5.5 trillion last year, resulting in accumulated losses of over VNĐ40 trillion. While the airline’s business result showed signs of improvement in 2023, its consolidated post-tax profit remained negative at about VNĐ5.5 trillion. Vietnam Airlines has finalised a restructuring plan, currently awaiting review by shareholders and the Government. The PM has called on the National Oil and Gas Group (PetroVietnam) and Vietnam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) to ensure sufficient coal and gas supplies for electricity production as the dry season approaches.

Source: Viet Nam News February 17, 2024 07:20 UTC