Vietnam Air Risks Insolvency If Loan Deadline Isn’t Extended

National carrier Vietnam Airlines JSC risks insolvency as early as July if the repayment deadline for a government-backed loan isn’t extended, according to a statement on the National Assembly’s website.

The airline is in a “financial crisis” because it hasn’t yet completed refinancing efforts such as restructuring non-core investments and sales of new shares due to delays in regulatory approvals, according to the statement. The parliament’s economic committee called Vietnam Airline’s situation “urgent” and implored the legislative body to act quickly.