Sunday , April 21 2024

Vietnam Airlines once again threatened with delisting

The Ho Chi Minh Stock Exchange (HoSE) may delist HVN shares of Vietnam Airlines if it reports a loss in its consolidated financial report for 2022.

By the end of December 31 the national flag carrier alone (not including its subsidiaries) was recording an accumulated loss of VND34.2 trillion ($1.46 billion).

Its equity was a negative VND10.2 trillion.

Vietnam Airlines still needs to publish its consolidated financial statement, which would include the earnings of its subsidiaries. If the report shows an accumulated loss, 2022 would be the third straight year the airline has posted a loss and its shares will be delisted from the HoSE.

Under the current regulation, a company will have its ticker delisted if it reports losses for three consecutive years, its accumulated losses exceed the charter capital, or its equity is negative.

The last time Vietnam Airlines received this warning was in September last year when it reported an accumulated loss of over VND5.1 trillion.

The two years of Covid-19 created major difficulties for Vietnam Airlines and its subsidiaries Pacific Airlines and Vietnam Air Services Company (VASCO).

In 2021, Vietnam Airlines avoided delisting after issuing 800 million bonus shares worth VND8 trillion.

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