Pacific Airlines Writes Off 4.3 Trillion Debt, Sees Record Profit of 2.5 Trillion After Four Consecutive Years of Huge Losses

Pacific Airlines, a subsidiary of Vietnam Airlines, has recently had a debt of nearly 4.3 trillion VND related to aircraft lease payments written off. Following negotiations and leasing support from Vietnam Airlines, the airline reported a profit of 2.506 trillion VND in 2024, despite prior financial difficulties. With total revenue at 5.381 trillion VND, this signifies a positive turnaround after a long stretch of losses from 2009 to 2021, particularly during 2020-2022 because of the COVID-19 pandemic. Established in 1991 and undergoing several ownership changes, Pacific Airlines continues operations primarily at Tan Son Nhat Airport as a low-cost carrier in Vietnam.