Bankrupt Viva Macau owes Vietnamese creditors $1 million 

Last updated: 10/15/2010 17:00 

Low-cost carrier Viva Macau has declared bankruptcy

It’s highly unlikely that Vietnamese creditors will collect their money from low-cost carrier Viva Macau, which has declared bankruptcy, a local ticketing agency has said.

The Global Distribution System Company said around 900 passengers, ticket agencies and airline service providers in Vietnam are affected by Viva Macau’s bankruptcy.

The failed carrier owed Vietnamese creditors close to a million dollars, the company said.

The company said it had attended a meeting in Macau last month where Viva Macau’s creditors discussed the future of the carrier. The bankruptcy option was selected.

The airline’s debts are estimated at around US$38 million while it  has almost no assets.

Viva Macau started flying to Ho Chi Minh City at the end of 2007 and opened a new route to Hanoi in February 2010. It stopped flights to Vietnam in April. 

Source: Thanh Nien, TBKTSG Online

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