Vietnam Airlines sells stake in Cambodian airline

Vietnam Airlines will divest its stake in Cambodia Angkor Air and should conclude the sale of five aircraft the airline reported in financial audit notes for the year 2019.

Details of the financial statement were released at the weekend, and according to a report in VNExpress an online news channel, the report links the decision to divest to the impact of Covid-19 over the last three months.

But the challenge will be to find a buyer when airlines are grounded, and the Covid-19 shows few signs of receding in the short-term. Vietnam Airlines owns 49% of Cambodia Angkor Air, Cambodia’s flag carrier, and the remaining 51% belongs to the Cambodian government.

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