Vietnam Airlines to auction A321s

Vietnamese flag carrier Vietnam Airlines is preparing to auction off eleven Airbus A321CEOs, that have been in service with the airline for more than twelve years. Due a loss of revenue brought about by the COVID-19 pandemic and in order to raise more capital, the state-owned carrier plans to sell them later this year.

This is not the first time that Vietnam Airlines decided to sell aircraft to increase its cash flow. In 2019 it put five Airbus A321-200s up for sale, followed a year later by placing a further nine Airbus A321s planes on the market.

Under the pressure of being delisted from the Ho Chi Minh Stock Exchange, the Hanoi-headquartered airline posted its largest-ever quarterly loss in the first three months of 2021. The SkyTeam member suffered a loss of USD216 million, pushing its accumulated debt to USD620 million, over its charter capital.