Vietjet raises $43.6 mln from bonds

Budget airline Vietjet has raised VND1 trillion ($43.61 million) from a domestic company to expand operations amid the Covid-19 pandemic.

The bonds are without collateral with a maturity of five years starting from May 24.

Revenues in the first quarter fell 56 percent year-on-year to VND4.05 trillion. In the same period, the company reaped post-tax profit of VND123.32 billion.

The profit came from its other investment to make up for the loss in its main business that is taking hits from social distancing.

It managed to lower operating costs by half and sales and administration costs by 39 percent.