Vietnam Airlines to hold extraordinary shareholders’ meeting on December 29
Vietnam Airline Corporation, coded HVN on the stock exchange, said it will organise an unusual shareholders’ meeting on December 29 to seek shareholders’ approval for issuing more shares to current investors to increase its charter capital.
The national flag carrier Vietnam Airlines is among the victims of COVID-19. (Photo: VNA)Hanoi (VNA) – Vietnam Airline Corporation, coded HVN on the stock exchange, said it will organise an unusual shareholders’ meeting on December 29 to seek shareholders’ approval for issuing more shares to current investors to increase its charter capital.
The government, through the State Capital Investment Corporation (SCIC), is holding over 86 percent of shares in the company, while Japanese aviation company ANA Holdings has an 8.7 percent stake, and other organizational and individual investors own the remainder.
The company will also seek permission to ask shareholders to provide it with loans at preferential interest rates to help with liquidity.
The corporation, consisting of the national flag carrier, Pacific Airlines and Vietnam Air Services Company (VASCO), posted a loss of 10.75 trillion VND (464 million USD) in the first nine month of the year. It anticipated over 15 trillion VND in loss for the whole year 2020.
Earlier, the Government gave out five measures to remove difficulties for the carrier which ran a risk of losing owner’s equity due to impacts of COVID-19 outbreak.
In an urgent support for Vietnam Airlines, the Government asked the State Bank of Vietnam to refinance a maximum of 4 trillion VND at a zero interest rate for commercial banks to lend to the corporation to serve its business operation.
Besides, the corporation is allowed to issue shares worth around 8 trillion VND for existing shareholders. The Government has assigned the State Capital Investment Corporation (SCIC) to buy shares of Vietnam Airlines.
The Government’s measures were approved by the National Assembly in its resolution 135/2020/QH14./.
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