Vietnam Airlines shares restricted to afternoon trading only

By Anh Tu July 6, 2023 | 01:47 am PT

A Vietnam Airlines aircraft taxiing at HCMC's Tan Son Nhat Airport. Photo by Shutterstock/anvu

Over 2.2 billion HVN shares of Vietnam Airlines will be restricted from trading in the afternoon only, starting from July 12, due to the company’s delay in submitting its financial reports.

The Ho Chi Minh Stock Exchange made the restriction decision on Wednesday after the airline was more than 45 days late in filing its audited 2022 financial figures.

Vietnam Airlines in early May requested more time to compile its report, saying that its auditor needed to review and evaluate more data.

The airline’s unaudited financial report for last year showed an accumulated loss of VND32 trillion ($1.35 billion).

Vietnam Airlines, however, seemed to be recovering in the first half this year, transporting 10.14 million passengers, up 23.6% year-on-year.

Its revenue rose nearly 50% to over VND45.2 trillion, almost the same as in 2019 before the pandemic.