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Vietnam Airlines loses $ 464 million due to global crisis

Vietnam Airlines said it had lost 10.7 trillion dong, equivalent to US $ 464 million in the 9 months of this year, From January to September, caused by the spread of Covid 19.


The airline claims it has reduced ticket sales, reduced financial and administrative costs, and reduced the salaries of pilots and flight attendants. Such as increasing repatriation flights as part of efforts to reduce costs and increase revenue.

Tran Thanh Hien, chief accountant of Vietnam Airlines, said the airline's third-quarter revenue fell 68 percent. There were 19 outbreaks of Covid in the country in late July.

He said that in the third quarter, airlines usually earn the highest revenue every year due to the large number of trips the country is approaching Summer. A second outbreak of Covid 19 has forced Vietnam Airlines to cancel 22 new domestic flights. Eleven companies are considering the possibility of resuming flights in the fourth quarter.

At present, Vietnam Airlines operates an average of 300 domestic flights a day. The airline has resumed one-way flights to Japan and plans to reopen flights soon to China, Taiwan, Laos and Cambodia.

Last month, Vietnam Airlines said its cash reserves fell to 1.9 trillion VND. The total loss this year is estimated at about 15.2 trillion VND on revenue of 55.7 trillion VND.

Article: Cnews

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