Viva Macau fails to pay back instalment on govt loan

Defunct airline Viva Macau has failed to pay back an initial instalment regarding a MOP200 million loan made by the government to the budget airline. According to the loan contract, Viva Macau had to pay back an initial instalment of MOP40 million to the government by July 1, 2010. The loan, received in installments between 2008 and 2009, was targeted to help the company to face the problems caused by the international financial crisis. A new date will now be set for the payment of the instalment. If Viva Macau defaults again, the government will commence legal proceedings against the loan’s guarantors, an Economic Services Bureau (DSE) spokesperson told the Macau Post Daily.