Vietjet to sell 17.7 mln treasury shares

It would help fund expansion and preparations for recovery after the pandemic this year, the airline said.

Vietjet’s VJC shares closed at VND136,000 ($5.89) on March 8, and at this price the carrier will earn over VND2.4 trillion from the deal.

It plans to complete the transaction in the first half of this year.

Vietjet had bought the shares in August 2019 for VND132,063 each. In June 2020, the carrier announced it was seeking to sell them to a strategic investor.

Vietjet was among the few airlines to make a profit and not fire any employee amid the Covid-19 pandemic last year. It recorded a consolidated after-tax profit of VND70 billion in 2020.