The airline, owned by Vietnam’s national carrier Vietnam Airlines, looks to have returned all of its aircraft though this may have been a repossession. This article in Tuoi Tre is not exactly clear but it does make specific mention of the struggles of Pacific Airlines to pay its debts.
“The more we flew, the more we lost,” it says.
Of note, the struggles of Vietnam Airlines itself are well known. It is currently negative equity and has recorded three consecutive years of losses. It should technically have been delisted from the Ho Chi Minh City Stock Exchange, however, this has not happened possibly due to government intervention.