Vietnam Airlines share trades to be limited from Nov 3 over losses
FILE PHOTO: A Vietnam Airlines Airbus A330-200 plane prepares for landing at Noi Bai airport in Hanoi, Vietnam November 21, 2016. REUTERS/Kham
HANOI: Shares of Vietnam Airlines will be limited from trading on the Hochiminh Stock Exchange from Nov 3, due to the flag carrier's mounting losses, the bourse said in a filing.
Vietnam Airlines' accumulated loss reach 17.7 trillion dong (US$782.25 million) as of end-June, the exchange said, adding that shares of the company will only be allowed to trade in the second half of the trading day.
The company didn't immediately respond to a request for comment.
Vietnam Airlines has been one of the hardest-hit firms in Vietnam during the COVID-19 pandemic. The national flag carrier is 86 per cent owned by the state and plays a crucial role in the Southeast Asian country's business and tourism economy.
The company last month raised US$351 million from issuing new shares to its existing shareholders, after signing deals in July for loans worth US$173.8 million from three local banks to shore up its liquidity.
Japan's ANA Holdings has an 8.77 per cent stake in Vietnam Airlines, according to Refinitiv data.
