Vietnamese low cost carrier Vietjet plans to sell off a 15% stake in the business to raise much needed funds. It will sell 81 million shares in a private placement but hasn’t disclosed the buyer. Based on current valuation it would bring in about US$400 million.
The airline will also issue international bonds worth about US$300 million on the Singapore Exchange this year. Vietjet is one of the very few airlines to post a quarterly profit in the first quarter of 2021 after a loss in 2020.
