Vietnam’s Pacific Airlines says $220mn debt written off

March 20, 2024

Vietnamese carrier Pacific Airlines said on Tuesday that it had successfully convinced its aircraft lessors to wipe off US$220 million of its debt. A Pacific Airlines representative said that the airline’s flights would be rescheduled or canceled. Pacific Airlines was established in 1991 as Vietnam’s first low-cost air carrier. In 2007, Australian airline Qantas acquired a 30-percent stake in Pacific Airlines and renamed it Jetstar Pacific Airlines. Vietnam's State Capital Investment Corporation transferred 68 percent of its holding at Jetstar Pacific Airlines to Vietnam Airlines in 2012 and its name was returned to Pacific Airlines.

The source of this news is from Tuoi Tre News