In a report sent to the Ministry of Transport, Vietnam Airport Corporation (
) outlined several tasks that need to be implemented to recover debts from domestic airlines that have violated payment obligations.
By the end of 2023, ACV must set aside provisions for nearly VND 3,600 billion of outstanding short-term receivables from
domestic airlines
, accounting for 40% of the total outstanding loans. It is worth noting that the majority of the debts from airlines arose during the COVID-19 period.
Airlines may face disruptions in service if they fail to pay their debts on time.
Despite the efforts made last year to recover debts, ACV announced that the debt repayment plan of airlines has not met expectations. Therefore, the corporation needs to apply more stringent measures to enforce provisions in contracts for airlines that violate their agreements.
Specifically, ACV will
establish
5 criteria for litigation, including having no debt repayment plan for ACV; not complying with the committed debt repayment plan; having no financial losses but not paying debts; incurring new debts in 2023; having a higher debt balance compared to other airlines.
Vietnam Airport Corporation provides services including landing and take-off, passenger services, passenger security screening, baggage services, cargo security screening, and rental of passenger processing counters…
ACV currently operates a system of 21 airports nationwide, including 9 international airports such as Tan Son Nhat, Noi Bai, Da Nang, Vinh, Cat Bi,
Phu Bai
, Cam Ranh, Phu Quoc, Can Tho and 12 domestic airports including Buon Ma Thuot, Lien Khuong, Rach Gia, Ca Mau, Con Dao, Phu Cat, Pleiku, Tuy Hoa, Chu Lai, Dong Hoi, Dien Bien and Tho Xuan.
