Perhaps, the temporary 777 hiring freeze is to assess, how far $51M will get them when they have over $3.3B worth of aircraft back ordered. Company plans to sell 20% to strategic investor at a company valuation of $1.5B or $300M for the 20% stake.
Company would have to sell itself more than twice to raise all the funds needed for WB aircraft orders..
Vietnam Airlines IPO fails to lure foreigners after 6-year wait | Business | Thanh Nien Daily
Interesting...State owned airline bought by State owned Bank..
A source of Thoi Bao Kinh Te Saigon newspaper told the newspaper that the two local institutions registering to buy almost all shares offered by VNA in the IPO, around 48.32 million shares, include a privatized commercial joint stock bank and a state-run commercial joint stock bank in which VNA has once been a shareholder.