JavaScript is off. Please enable to view full site.

Vietnam Airlines to raise $84mn to buy 18 new planes via share issue

Vietnam Airlines to raise $84mn to buy 18 new planes via share issue

Thursday, June 22, 2017, 17:45 GMT+7

Vietnam Airlines is scheduled to issue over 191 million shares to fund a plan to add more modern Boeing and Airbus planes to its fleet, the national flag carrier said at a shareholder meeting on Tuesday.

The carrier’s shareholders voted to approve the offering, which seeks to raise VND1.9 trillion (US$83.7 million), by the end of 2017 or early 2018.

Vietnam Airlines has plans to spend more than VND2,111 billion ($93 million) on the purchase of ten Airbus A350-900WXB’s and eight Boeing 787-9’s this year, accounting for 72 percent of its 2017 investment budget.

The shareholders also approved the carrier’s financial plan, with an expected revenue of VND66,872 billion ($2.95 billion), a 22 percent increase from last year, and VND1,256 billion ($55.33 million) in profit.

The airline also set a target of carrying more than 22.5 million passengers this year, a six percent rise from 2016.

Vietnam Airlines began listing on the Unlisted Public Company Market (UPCoM) in January 2017 and is completing procedures to list on the Ho Chi Minh City Stock Exchange later this year.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!

TUOI TRE NEWS

More

Read more

;

Photos

VIDEOS

‘Taste of Australia’ gala dinner held in Ho Chi Minh City after 2-year hiatus

Taste of Australia Gala Reception has returned to the Park Hyatt Hotel in Ho Chi Minh City's District 1 after a two-year hiatus due to the COVID-19 pandemic

Vietnamese woman gives unconditional love to hundreds of adopted children

Despite her own immense hardship, she has taken in and cared for hundreds of orphans over the past three decades.

Vietnam’s Mekong Delta celebrates spring with ‘hat boi’ performances

The art form is so popular that it attracts people from all ages in the Mekong Delta

Vietnamese youngster travels back in time with clay miniatures

Each work is a scene caught by Dung and kept in his memories through his journeys across Vietnam

Latest news