Corporate Vietjet, Bamboo Airways seek Government financial aid The Saigon Times Saturday, Nov 28, 2020,15:33 (GMT+7) Vietjet, Bamboo Airways seek Government financial aidThe Saigon Times Aircraft of Vietnam Airlines, Bamboo Airways and Vietjet are parked at a local airport – PHOTO: VIETNAMPLUS HCMC – Private air carriers Vietjet and Bamboo Airways have petitioned the Government to provide them with financial aid packages such as the one granted to Vietnam Airlines so they can overcome the difficulties caused by Covid-19. At a recent seminar themed “Overcoming crisis, developing Vietnam’s aviation sustainably”, Vietjet Deputy General Director Ho Ngoc Yen Phuong said the firm incurred huge losses in the past nine months. It has sold assets, cut salaries by 50%-70% and paid minimum salaries of VND8-10 million to other staff, the local media reported. She said airlines in other countries, such as Thailand and China, were offered financial support. Once Vietnam resumes international flights, these air carriers will fiercely compete with local airlines. Airlines will continue facing difficulties with liquidity in the next two to three years due to a plunge in revenues. The National Assembly (NA) has allowed the State Bank of Vietnam to direct credit institutions to offer low-interest loans worth VND4 trillion (US$172.7 million)… Read full this story
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