Vietnam Airlines shares restricted to afternoon trading only
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Over 2.2 billion HVN shares of Vietnam Airlines will be restricted from trading in the afternoon only, starting from July 12, due to the company’s delay in submitting its financial reports.
The Ho Chi Minh Stock Exchange made the restriction decision on Wednesday after the airline was more than 45 days late in filing its audited 2022 financial figures.
Vietnam Airlines in early May requested more time to compile its report, saying that its auditor needed to review and evaluate more data.
The airline’s unaudited financial report for last year showed an accumulated loss of VND32 trillion ($1.35 billion).
Vietnam Airlines, however, seemed to be recovering in the first half this year, transporting 10.14 million passengers, up 23.6% year-on-year.
Its revenue rose nearly 50% to over VND45.2 trillion, almost the same as in 2019 before the pandemic.
Questions & Answers
Q.Why has the Ho Chi Minh Stock Exchange restricted Vietnam Airlines' shares to afternoon trading?
Why has the Ho Chi Minh Stock Exchange restricted Vietnam Airlines' shares to afternoon trading?
The restriction was imposed because Vietnam Airlines failed to submit its audited 2022 financial figures within the required timeframe. The airline was more than 45 days late in filing the necessary report to the stock exchange.
Q.What reason did Vietnam Airlines give for the delay in submitting its financial reports?
What reason did Vietnam Airlines give for the delay in submitting its financial reports?
Vietnam Airlines stated in early May that it needed more time to compile its report. The company explained that its auditor required additional time to review and evaluate a larger volume of data.
Q.Despite the financial report delay, how did Vietnam Airlines perform in the first half of this year?
Despite the financial report delay, how did Vietnam Airlines perform in the first half of this year?
The airline appeared to be recovering, transporting 10.14 million passengers, a 23.6% increase year-on-year. Its revenue also rose by nearly 50% to over VND45.2 trillion, matching pre-pandemic levels from 2019.
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