Monday , March 4 2024

Vietnam Airline sells stake in Cambodian carrier

Vietnam Airlines has sold a 35 percent stake in Cambodia Angkor Air for US$35 million.

It had bought a 49 percent stake in the Cambodian carrier in 2009 and promised to help it expand.

But in 2020 it had expressed its intention to sell of its stake due to Covid-19. It is now set to divest the remaining 14 percent in by the end of this year.

Vietnam Airlines’ accumulated losses climbed to VND21.98 trillion ($955.6 million) last year, roughly the same as its charter capital.

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