Vietnam Airlines records over VND12 trillion in losses this year
National flag carrier Vietnam Airlines has endured a pre-tax loss of more than VND12 trillion for this year, although there remains optimistic signs ahead in comparison to previous predictions due to the devastating impact of the novel coronavirus (COVID-19) pandemic.
During its extraordinary shareholders’ meeting held in Hanoi on December 29, Dang Ngoc Hoa, chairman of Vietnam Airlines Corporation, said that despite being negatively affected by the COVID-19 pandemic, the airline has shown a more positive outlook compared to its plan which was revealed at the annual shareholders’ meeting in August.
Vietnam Airlines earned a full-year revenue of nearly VND33 trillion, representing a decline of VND448 billion, equivalent to 1.4%, compared to its plan published on August 10.
Most notably, losses were recorded at VND12 trillion, a fall of VND2.42 trillion against the previous plan.
This year has seen the national airline conduct a total of 96,500 flights carrying a total of 14.23 million passengers, with an on-time performance (OTP) rate of roughly 90%. Vietnam Airlines has also conducted 180 flights to bring home 52,000 Vietnamese citizens stranded in 30 countries worldwide due to the impact of the COVID-19 pandemic.
Financial reports appear to be more optimistic than the previous plan due to the Government’s effective control of the COVID-19 pandemic, stable business environment, timely assistance implemented by the Government and functional agencies, coupled with drastic measures put in place by Vietnam Airlines.
The national flag carrier has plans to recover its revenue and begin to make a profit again from 2023.
During its extraordinary shareholders’ meeting held in Hanoi on December 29, Dang Ngoc Hoa, chairman of Vietnam Airlines Corporation, said that despite being negatively affected by the COVID-19 pandemic, the airline has shown a more positive outlook compared to its plan which was revealed at the annual shareholders’ meeting in August.
Vietnam Airlines earned a full-year revenue of nearly VND33 trillion, representing a decline of VND448 billion, equivalent to 1.4%, compared to its plan published on August 10.
Most notably, losses were recorded at VND12 trillion, a fall of VND2.42 trillion against the previous plan.
This year has seen the national airline conduct a total of 96,500 flights carrying a total of 14.23 million passengers, with an on-time performance (OTP) rate of roughly 90%. Vietnam Airlines has also conducted 180 flights to bring home 52,000 Vietnamese citizens stranded in 30 countries worldwide due to the impact of the COVID-19 pandemic.
Financial reports appear to be more optimistic than the previous plan due to the Government’s effective control of the COVID-19 pandemic, stable business environment, timely assistance implemented by the Government and functional agencies, coupled with drastic measures put in place by Vietnam Airlines.
The national flag carrier has plans to recover its revenue and begin to make a profit again from 2023.
Leave your comment on this story