Vietnam Air to unload stake in Cambodia carrier to secure cash

Airline industry scrambles to survive as coronavirus halts flights.

Vietnam Airlines looks to sell its 49% interest in state-run Cambodia Angkor Air as service cuts spurred by the coronavirus outbreak leave the Vietnamese carrier strapped for cash.

Vietnam Air reportedly is in advanced talks with potential buyers including the Cambodian government, which owns the remaining 51%. But the carrier has not disclosed how much it plans to divest, or to whom.

The company told investors in a report that it received approval for the sale from Vietnam’s government, its majority shareholder.

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