Vietnam Airlines Struggling To Sell Aircraft

Vietnam Airlines, which is trying to sell some assets to raise cash and improve its balance sheet, has been facing difficulty selling several of its aircraft.

The national carrier says in a shareholder meeting it has yet to sell the six ATR 72-500s it has been trying to sell since last year, due to an unfavourable market for used aircraft. To help sell the aircraft, it is now open to a sale leaseback arrangement, it adds.

Vietnam Airlines, meanwhile, says it planned to sell five A321ceo aircraft in 2019, that were manufactured in 2004-2005, and then sell nine A321ceo aircraft in 2020 that were manufactured in 2007-2008. But it says it still has 12 of these aircraft available for sale having only sold two in 2021.

Aircraft still available for sale

Source: Vietnam Airlines

Vietnam Airlines says it plans to convert two of the A321ceo aircraft this year into freighters and then do a sale leaseback on these aircraft. The aircraft will be assigned to dedicated freighter operations Vietnam Airlines is establishing, it adds. The two A321ceo aircraft have manufacturer serial numbers 3022 and 3198, it says.

Vietnam Airlines has been posting consecutive quarterly losses, but is now working to sell some assets to cut its losses and improve its balance sheet.

The airline has also said publicly it plans to add either Airbus A220 or Embraer E-Jets to replace the ATR aircraft.

Photo Source: M Radzi Desa

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