The Civil Aviation Authority of Việt Nam (CAAV) requires Pacific Airlines to submit a restructuring plan before March 22. Photo dantri.com.vn

HCM CITY – The Civil Aviation Authority of Việt Nam (CAAV) asked Pacific Airlines to submit its fleet restructuring and operation plan before March 22.

Previously, Pacific Airlines announced it would return all of its aircrafts and temporarily suspend operations to restructure itself.

In order to ensure the rights of passengers who have purchased tickets, CAAV has requested Pacific Airlines refund tickets to passengers without any fees.

Passengers who have purchased tickets and wish to continue using them will be notified of new flight schedules or transferred to Việt Nam Airlines flights.

Along with that, CAAV also requested this airline urgently implement the restructuring of the aircraft fleet, plan to put the aircraft back into operation as soon as possible and report to CAAV before March 22.

Finally, Pacific Airlines must return unused slots while it is not operating.

Due to the impact of the Covid-19 epidemic, Pacific Airlines has faced financial difficulties, cash flow shortages and large overdue debts that threaten to render the carrier insolvent. It is estimated that Pacific Airlines' accumulated loss by the end of 2022 was more than VNĐ10.7 trillion (US$446.7 million) with negative equity of VNĐ6.7 trillion ($275.2 million).

Pacific Airlines had to return of all its aircraft to clear its debt.

Pacific Airlines was the first low-cost airline in Việt Nam, established in 1991. – VNS