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VIETNAM BUSINESS NEWS JULY 8

VIETNAM BUSINESS NEWS JULY 8
vietnamnet.vn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from vietnamnet.vn Daily Mail and Mail on Sunday newspapers.

​Vietnam Airlines signs $87 million loan agreement with SeABank

By Cirium2021-07-07T01:34:00+01:00 Vietnam Airlines has signed a credit contract with Vietnam’s Southeast Asia Commercial Joint Stock Bank for up to D2 trillion ($87 million). A part of this amount will be disbursed early this month as working capital lending for production and business activities, “alleviating difficulties faced by Vietnam Airlines due to the Covid-19 pandemic”, SeABank says in a statement today. Source: Greg Waldron/FlightGlobal A Vietnam Airlines A321 at Changi Airport in July 2019 Separately, Vietnam Airlines and SeABank signed a three-way strategic cooperation with local real estate developer BRG Group “on a wide variety of areas to enhance customer experience and contribute to the country’s socioeconomic sustainability”, according to the same statement.

Can airlines find the cash to survive the Covid crisis?

Air India Air India is in the throes of “disinvestment” as the government attempts to end decades of heavy losses and state intervention to keep the airline flying. India’s Economic Times reported this week that disinvestment-bound Air India hopes to raise USD26.9 million to USD40.3 million by selling commercial and residential real estate assets in e-commerce auctions across the country starting 8 July. A special-purpose business unit – Air India Assets Holding Ltd – has been set up to hold the non-core assets of the Air India group, many of which will be sold off to raise cash. Singapore Airlines Singapore Airlines describes its financial year ending 31 March 2021 as the “toughest year in its history.”  Singapore Airlines Group slumped to a record SGD4.3 billion full-year net loss for the financial year reversing the SGD$59 million operating profit it made the previous year. At the operating level, the group was SGD2.5 billion in the red.

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