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Loss-making Vietnam Airlines (VN, Hanoi) has put out a tender to find a consultancy firm to help it divest the entirety of its shareholding in profitable wholly-owned jet-fuel distributor Skypec as it grapples with the prospect of a delisting from the stock market. Ho Chi Minh City Stock Exchange nevertheless repeated its threat that the stock was still at risk of delisting.

Skypec is one of the two biggest jet-fuel distributors in Viet Nam, along with Petrolimex Aviation. Vietnam Airlines said in a statement that interested consultancies could make their offers until February 8.

Skypec has total storage capacity of over 220,000 cubic metres (220 million litres), including facilities at major seaports and 18 airports, enabling it to fuel 214,000 aircraft per year. Pre-Covid, it was one of the state-owned flag carrier’s biggest money-spinners, but the bourse has repeatedly warned the airline that it could be delisted for posting consecutive losses.

According to the Ho Chi Minh City Stock Exchange, Vietnam Airlines’ consolidated report for the fourth quarter of 2022 put losses after tax...

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