Bamboo Airways seeks refinancing loan with interest rate of zero percent
In a document sent to the Ministry of Transport, the private airline Bamboo Airways proposed a preferential loan and some tax cuts to overcome the COVID-19 crisis.
Passengers disembark a Bamboo Airways aircraft (Photo: VNA)
Hanoi (VNS/VNA) - In a document sent to the Ministry of Transport,the private airline Bamboo Airways proposed a preferential loan and some taxcuts to overcome the COVID-19 crisis.
The air carrier asked the ministry to consider and propose to the Governmentand the State Bank of Vietnam (SBV), the country’s central bank, to issue aresolution to allow commercial banks to provide a long-term refinancing loan of5 trillion VND (216 million USD) with a 0-percent interest rate, which issimilar to the 4 trillion VND loan package applied to Vietnam Airlines.
Bamboo Airways also proposed a rise in the environmental tax reduction onaviation fuel to 50 percent from 30 percent, as well as cut (possibly 100%) insome fees and other service prices like airport services and flight operationservices until the end of this year.
The airline also asked for the extension of some supportive policies foremployees, and to add policies for employers.
According to Bamboo Airways, the tax and fee reduction policies for airlines in2020 have helped the air carrier cut costs by about 120 billion VND, whichaccount for 1.4 percent of the total cost. Of which, 70 billion VND was fromthe flight fuel tax reduction, 27 billion VND was from the 50 percent discountpolicy for takeoff/landing services and 23 billion VND from the flight controldiscount.
Earlier, Bamboo Airways revealed that in 2020, the airline reported a profit ofmore than 400 billion VND, up 34 percent over 2019, despite the impact of theCOVD-19 pandemic.
This is the first time a private airline has asked for a large refinancing loanwith an interest rate of 0 percent. The SBV provided refinancing loans forVietnam Airlines to maintain its operations and overcome the pandemic./.
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Passengers disembark a Bamboo Airways aircraft (Photo: VNA) 
