Jetstar Pacific chased for unpaid fuel bills
Vietnam’s state fuel company Vinapco claims that it is facing insolvency because two air carriers have failed to pay for fuel worth more than US$10 million
Qantas offshoot Jetstar Pacific owed the jet fuel supplier US$8.43 million while Indochina Airlines owed another $1.32 million, said Vinapco general director, Tran Huu Phuc.
Vietnam Airlines, the national flag carrier and the leading state shareholder in Vinapco, has asked the Ministry of Finance to resolve the situation, Phuc told Viet Nam News, adding “it is in process and I expect solutions will be drafted soon”.
Indochina Airlines had already defaulted on its debut, but Jetstar Pacific has committed to paying principal and interest as of July 31, Vinapco said.
Vinapco is also requiring underwriting documents from Jetstar.
Indochina Airlines, Viet Nam’s first private airline began operations in November 2008 but has been grounded for the last two years due to financial difficulties, defaulting on debts US$3.41 million.
In August 2010, Vietnamese authorities detained the former CEO of Jetstar Pacific and stopped the airline’s chief operating officer and chief financial officer from leaving the country while an investigation was under way into multi- million-dollar fuel hedging losses.
Ian Jarrett
Vegas’s Billion-Dollar Secrets – What They Don’t Want Tourists to Know
Visit Florida’s New CEO Bryan Griffin Shares His Vision for State Tourism with Graham
Chicago’s Tourism Renaissance: Graham Interviews Kristin Reynolds of Choose Chicago
Graham Talks with Cassandra McCauley of MMGY NextFactor About the Latest Industry Research
Destination International’s Andreas Weissenborn: Research, Advocacy, and Destination Impact
Graham and Don Welsh Discuss the Success of Destinations International’s Annual Conference
Graham and CEO Andre Kiwitz on Ventura Travel’s UK Move and Recruitment for the Role
Brett Laiken and Graham Discuss Florida’s Tourism Momentum and Global Appeal
Graham and Elliot Ferguson on Positioning DC as a Cultural and Inclusive Global Destination
Graham Talks to Fraser Last About His England-to-Ireland Trek for Mental Health Awareness
Kathy Nelson Tells Graham About the Honour of Hosting the World Cup and Kansas City’s Future
Graham McKenzie on Sir Richie Richardson’s Dual Passion for Golf and His Homeland, Antigua
ADS PRO 
Global tourism exceeds 1.5 billion travelers announces UN-Tourism
Qatar Airways offers reduced timetable to over 60 destinations
WTTC global tourism reached record economic impact of 11 trillion in 2025
Hands In, UATP join forces for airline multi-card payments
Overseas travelers to the United States declined by 2.5% in 2025