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Vietjet to sell up to 15% stake as Vietnam battles COVID surge

Cargo shipping made budget carrier one of few profitable airlines in 2020

HO CHI MINH CITY -- Vietjet has received shareholder approval to sell a stake of up to 15%, the Vietnamese budget airline said on Tuesday, adding it will also consider a $300 million international bond sale.

While cargo shipping made Vietjet one of the few profitable carriers in 2020, it said shareholders at the annual meeting approved "a more cautious business plan for 2021" due to the impact of the coronavirus pandemic.

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