Vietravel to issue shares to write off $7.35mn debt

Vietravel Airlines to raise charter capital to $82mn

A general meeting of shareholders of Vietravel Airlines (VU, Hue Phu Bai International) on October 23 authorised the carrier’s board of directors to conduct a share issue to new and existing shareholders to raise the company’s charter capital to VND2 trillion dong (USD82 million) from VND1.3 trillion (USD53 million).

The aim is to supplement the business capital of the company in its core and supporting businesses, it said in a statement. Vietravel Airlines currently operates three A321-200s, according to the ch-aviation fleets advanced module, with a limited flight network and is looking for investors to obtain more resources.

Vietravel Airlines started scheduled flight operations in early 2021. It harbours ambitions of increasing its fleet size to 25 by 2025 and 50 by 2030. The carrier also seeks eventually to increase its capital to VND8.25 trillion (USD335 million).

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