Vietnam jet fuel supplier Vinapco reels under bad debt

摘要

Hanoi-Vietnam's leading jet fuel supplier, Vietnam Air Petrol Company, said June 9 that it is owed Dong 207 billion ($10 million) in unpaid jet fuel bills by two domestic carriers, which is threatening its commercial viability. "The debts amount to approximately 50% of the registered capital of our company," said Vinapco's general director, Tran Huu Phuc. "If this situation continues, Vinapco will face credit restrictions by banks, causing Vinapco to be unable to execute its business plan."