The Airports Corporation of Vietnam (ACV) is currently a creditor to four domestic airlines. — Photo giaoducthoidai.vn

 

The Ministry of Finance's Inspectorate has issued a conclusion on the financial audit of the Airports Corporation of Vietnam (ACV) for 2023.

 

The inspectorate pointed out several shortcomings in financial management, accounting and tax obligations at the ACV.

 

One of the issues is that ACV is currently a creditor to four domestic airlines, with overdue debts totalling more than VNĐ5.7 trillion (US$223 million) as of December 31, 2023.

 

Specifically, Bamboo Airways tops the list with overdue debt of VNĐ2.1 trillion, followed by VietJet (VNĐ1.2 trillion), Vietnam Airlines (VNĐ1.2 trillion), Pacific Airlines (VNĐ839.3 billion) and Vietravel Airlines (VNĐ244.5 billion).

 

These are service fees collected for passenger services and security for passengers and luggage, which ACV has authorised airlines to collect from customers.

 

ACV said in a report that the impact of the COVID-19 pandemic is a major reason for the sharp increase in overdue debt, which suspended many international and domestic routes. This affected revenue, cash flow and the airlines' ability to repay debts.

 

The Ministry of Finance's Inspectorate has required the ACV and related units to declare adjustments and repay nearly VNĐ6 billion to the State budget.

 

They must also improve a capital investment plan and complete the process of reconciling and confirming overdue receivables and payables, it said.

 

The ACV must implement decisive measures to recover overdue debts, improve investment efficiency and declare adjustments and pay additional corporate income tax, according to the inspectorate. — BIZHUB.VN

 

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