Vietnam Airlines Warns Of Significant Loss For First Nine Months Of 2020 | News


Vietnam Airlines has warned of a consolidated loss of 10.8 trillion dinars ($ 464 million) in the first nine months of 2020 as the coronavirus pandemic wreaks havoc on operations.

The company adds that it expects a consolidated turnover of 23.9 trillion dinars for the first nine months of the year, or a quarter of the turnover of 77.7 trillion dinars generated over the years. first nine months of 2019.

The consolidated loss represents a massive variation from the consolidated profit before tax of 3.3 trillion dinars generated by the airline in the first nine months of 2019.

The consolidated figure includes the main carrier as well as Pacific Airlines (formerly Jetstar Pacific), VASCO and the Cambodia Angkor Air subsidiary.

The carrier SkyTeam lists a number of measures it has taken to deal with the crisis, including cutting costs, extending payment schedules, reducing non-urgent investments, operating charter flights to repatriate citizens, restructuring its organization, operating cargo flights and eliminating older aircraft.

So far, Vietnam Airlines and Pacific Airlines have operated 100 repatriation flights, repatriating more than 30,800 Vietnamese citizens from nearly 30 countries. It has also operated over 2,600 cargo flights.

Since Vietnam has not opened up to international travel, the airline mainly focuses on the domestic market. Vietnam has not recorded any local cases of Covid-19 for 40 days, allowing domestic air travel to continue.

The airline claims that the lack of international services continues to weigh heavily on its performance, “so the direct efficiency of the Vietnam Airlines group is still at a very limited level.”

The airline operates 60 domestic routes with an average of 300 flights per day. Passenger volumes are 12% higher than a year ago.

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