Vietnam Airlines stock trading restricted to afternoon session

Trading in Vietnam Airlines’ stock will be restricted to the afternoon session from Nov. 3 aftermarket regulators deemed the carrier’s financial situation “risky”.

The main bourse Ho Chi Minh Stock Exchange will consider lifting the restriction depending on its evolving financial situation.

The airline reported a loss of VND8.46 trillion for the first half of this year.

Its accumulated losses as of Jun. 30 were VND17.81 trillion, or more than its charter capital then.

In reviewing the company’s half-yearly financial statement, auditors Deloitte Vietnam said it has doubts about the airline’s ability to “continue as a going concern.”

The company’s recovery is dependent on financial support from the government, rolling over of loans by banks and the Covid-19 pandemic, it said.

Last month Vietnam Airlines said it had issued nearly 800 million shares to increase its charter capital by VND8 trillion to VND22.14 trillion.