HomeNewsEconomyPacific Airlines returns unexploited slots

Pacific Airlines returns unexploited slots

In the latest report sent to the Vietnam Aviation Administration, Pacific Airlines said that the latest plan for slots (takeoff and landing) will be refunded by the airline in coordination with Vietnam Airlines during the temporary suspension of operations.

Responding to PV VTC News, a representative of Pacific Airlines informed that returning slots after the 2-month deadline will result in revocation of the aircraft operator certificate (AOC), or flights will not be operated in the near future. 

Previously, Pacific Airlines temporarily stopped operating flights from March 18, after returning all leased aircraft from its partners.

A leader of the Aviation Department said that the airline will look for a new partner to lease the plane. When it is leased, the airline will continue to operate the registered routes.

Pacific Airlines returns unexploited slots. (Illustration photo).

Pacific Airlines returns unexploited slots. (Illustration photo).

"Currently, the airline still has a number of aircraft that are not in operation and will continue to return them after technical inspection according to the lease contract.', this one said.

Information with VTC News, a representative of Pacific Airlines said the unit has negotiated with aircraft owners to handle large debts. This is a strategic part of Pacific Airlines' restructuring process.

"Currently, Pacific Airlines has reached an agreement with shipowners to clear debts of about 220 million USD. However, Pacific Airlines must make a commitment to return the entire A320 fleet to shipowners. Therefore, from March 18, 3, Pacific Airlines has temporarily suspended flights to focus on ensuring ship return conditions as committed.”, said a representative of Pacific Airlines.

All negotiations with the ship owner were carried out according to previous plans, so Pacific Airlines proactively coordinated with Vietnam Airlines to transfer all passengers who had purchased tickets on flights operated by Pacific Airlines to flights operated by Pacific Airlines. Vietnam Airlines.

Passenger transfer work was completed in the first week of March 3. Currently, all passengers have been transferred to corresponding flights operated by Vietnam Airlines, and at the same time, passengers are fully informed about flight changes through the sales systems of Vietnam Airlines and Pacific Airlines. .

"Passengers' rights and requests will be guaranteed to be served by Vietnam Airlines through Vietnam Airlines' customer care system.s", said a representative of Pacific Airlines.

Pacific Airlines is the first low-cost airline in Vietnam, once invested in by the Australian airline Qantas Group. In October 10, Qantas Group carried out procedures to withdraw from Pacific Airlines and transfer 2020% of its shares to Vietnam Airlines in the form of a gift. By the first quarter of 30, this deal was completed and Vietnam Airlines has held nearly 2022% of shares in Pacific Airlines since then.

According to Vietnam Airlines' annual report, in 2022, Pacific Airlines recorded a total revenue of nearly 2022 billion VND in 3.487, a loss before tax of 2.096 billion VND, a loss of 212 billion VND compared to 2021.

With 3 consecutive years of losses of over 2.000 billion VND/year since the COVID-19 period, it is estimated that Pacific Airlines' accumulated losses by the end of 2022 have reached more than 10.700 billion VND and negative equity of 6.700 billion VND.

Ngoc Vy


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