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Bankrupt Viva Macau owes Vietnamese creditors $1 million   2010-10-19 - Thanh nien, TBKTSG, VietNamNet

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.

Would-be passengers filing claims with TransViet Company’s help.

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.

Vietnamese passengers and booking agents began asking for intervention from relevant agencies to help return their airfare and deposit money in June 2010, two months after the discount carrier Viva Macau stopped flying and announced bankruptcy.

Vo Huy Cuong, a senior official of the Civil Aviation Authority (CAAV) told Tuoi Tre that in April 2010, CAAV received petitions from the Southern Airports Corporation and TransViet Group,the general booking agent of Viva Macau in Vietnam, asking it to assist the companies to contact Macau authorities.

Cuong also said that CAAV sent a document to its Macanese counterpart, reminding that Viva Macau should fulfill its financial responsibilities to Vietnamese partners and passengers.

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.

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