Vietnam Airlines has sold a 35 percent stake in Cambodia Angkor Air for US$35 million.
It had bought a 49 percent stake in the Cambodian carrier in 2009 and promised to help it expand.
But in 2020 it had expressed its intention to sell of its stake due to Covid-19. It is now set to divest the remaining 14 percent in by the end of this year.
Vietnam Airlines’ accumulated losses climbed to VND21.98 trillion ($955.6 million) last year, roughly the same as its charter capital. RETAIL NEWS