Vietnam Airlines speaks out about HVN shares being restricted from trading

Investors can still trade HVN shares in the afternoon session of the trading day by centralized order matching and negotiated trading methods. The restriction on stock trading does not affect the production and business activities of Vietnam Airlines .

Vietnam Airlines nói gì về việc cổ phiếu HVN bị hạn chế giao dịch? - Ảnh 1.

Vietnam Airlines staff are checking in at Noi Bai airport. Photo: Phan Cong

In order to soon bring the stock back to normal trading status, the company continues to promote comprehensive restructuring and improve the efficiency of production and business activities. The company is also working closely with the auditing company to soon complete and make information disclosure.

On July 5, the Ho Chi Minh City Stock Exchange (HoSE) announced its decision to move more than 2.2 billion HVN shares of Vietnam Airlines from controlled to restricted trading.

Accordingly, HVN is only allowed to trade in the afternoon session due to the delay in submitting the 2022 audited financial report by more than 45 days. HVN has been under control since the beginning of May due to the delay in submitting the audited financial report by 30 days.

HOSE has also sent multiple notices to Vietnam Airlines noting the possibility of delisting the company's shares due to business losses. Vietnam Airlines suffered losses of nearly VND11,000 billion and VND13,000 billion in 2020 and 2021, respectively. If the audited consolidated financial statements for 2022 continue to show negative after-tax profits of the parent company's shareholders and/or negative equity, HVN shares are likely to be delisted.

Currently, Vietnam Airlines' operations are stable with nearly 400 flights per day and will continue to increase during the peak summer season. The airline has prepared the best resources, including aircraft, pilots, flight attendants and ground staff to meet market demand.

In the first quarter of 2023, Vietnam Airlines achieved remarkable positive results when its consolidated net revenue exceeded VND 23,494 billion, double that of the same period last year and also the highest level achieved in a quarter since the outbreak of the pandemic. With a pre-tax profit of VND 19 billion, Vietnam Airlines officially returned to profit since the beginning of 2020 - when the COVID-19 pandemic broke out and a series of flights had to be temporarily suspended.

By the end of 2022, Vietnam Airlines had restored its entire domestic flight network and operated 70% of its international routes compared to before the pandemic. All transport output targets exceeded the annual plan by 7-8%. By the end of the first quarter of 2023, the airline's entire international flight network had almost completely recovered compared to the pre-pandemic period.

"With the market recovery and drastic efforts to comprehensively restructure the business, Vietnam Airlines is confident that it will complete the goals in the post-pandemic recovery plan, thereby quickly overcoming all difficulties, improving financial capacity and developing sustainably. This is also our top priority to ensure the interests of shareholders - those who have accompanied and stood side by side with Vietnam Airlines throughout the past time" - Ms. Kim Thi Thu Huyen, Secretary of Vietnam Airlines, shared.

Duong Ngoc

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