The sale, which is set to take place this year, is part of its program to replace old-generation aircrafts that have been used for over 12 years. It also aims to increase its cash flow at a time of trouble for the pandemic-hit aviation sector.

The carrier had sold nine aircraft last year and five in 2019. It had a fleet of 107 aircraft at the end of last year, including 51 Airbus A321 CEO aircraft.

The carrier posted its largest quarterly loss ever in Q1 at VND4.97 trillion ($216 million), pushing its accumulated loss to VND14.22 trillion, marginally surpassing its charter capital.

If its performance continues in the same vein, the airline’s HVN ticker on the Ho Chi Minh Stock Exchange (HoSE) might be delisted. It has already received a warning from the bourse on April 15.