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Vietnam Airlines puts stake sale on hold

The sale of a 10-20% stake in Vietnam Airlines, the country’s flag carrier, to foreign investors is now unlikely to take place before 2009, according to government officials.

They also said sale could be postponed even longer if the Vietnamese economy continued its decline. With the carrier reporting a H1 loss of $5 million, plans for it to fly to the United States may also be in jeopardy. The airlines’ privatization plans involved selling a percentage of the Government’s stake to three or four strategic overseas investors. (