Owed thousands of billions, ACV considers suing the airline

According to ACV, the aviation services that this unit is providing to airlines include take-off and landing services; passenger services; passenger and baggage security screening; cargo security screening; passenger check-in counter rental, etc.

Bị nợ hàng nghìn tỉ, ACV tính chuyện khởi kiện hãng bay- Ảnh 1. — ACV collects management fees from landing and take-off services, passenger services...

By the end of 2023, ACV had to set aside nearly VND3,600 billion in provisions for short-term doubtful receivables from domestic airlines, accounting for 40% of customer receivables. Of this, the majority of debts from airlines arose during the Covid-19 period.

According to ACV, in 2023, despite the acceleration of debt collection, the debt collection results and debt repayment plans of airlines still do not meet requirements. Therefore, ACV believes that more drastic measures must be applied to move towards implementing sanctions against airlines that violate contracts.

Specifically, ACV has established 5 criteria for initiating a lawsuit and stopping the provision of services to violating airlines to seek opinions from competent management agencies, including: the airline has no plan to repay the debt to ACV; does not properly implement the committed debt repayment plan; business results are not at a loss but does not repay the debt; has new debts arising in 2023; has a larger debt balance than other airlines.

ACV is managing, investing and operating a system of 22 airports nationwide, including 9 international airports, namely Tan Son Nhat, Noi Bai, Da Nang, Vinh, Cat Bi, Phu Bai, Cam Ranh, Phu Quoc, Can Tho and 13 domestic airports: Buon Ma Thuot, Lien Khuong, Rach Gia, Ca Mau, Con Dao, Phu Cat, Pleiku, Tuy Hoa, Chu Lai, Dong Hoi, Na San, Dien Bien, Tho Xuan.

In 2023, ACV's total revenue will reach VND 20,034 billion, reaching 103% of the annual plan; pre-tax profit will be VND 8,646 billion, reaching 102% of the annual plan; and the state budget will be paid VND 2,051 billion.

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