In a document sent to the Minister of Transportation, the Vietnam Civil Aviation Administration has confirmed that Indochina Airlines is in an unhealthy financial situation.
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According to the document, reports of Indochina Airlines’ partners including Southern Airports Corporation, the Northern Airports Corporation and the Vietnam Air Navigation Service Corporation show the airline owes over 30 billion dong.
These are overdue debts and creditors won’t allow Indochina Airlines to delay payment further. At this moment, this airline has not sent its financial report to ensure its flight schedule for 2010 at the request of the Vietnam Civil Aviation Administration.
The Administration, therefore, asked the Ministry of Transportation to revoke the aviation transportation license granted to Indochina Airlines as of January 1, 2010. This license will be reconsidered after Indochina Airlines proves its financial ability.
VietNamNet/Dan Tri
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