Airport ground service firm reports $1.4 mln loss

By Thuy Tien May 3, 2021 | 10:50 pm PT

A Taseco souvenir shop at HCMC’s Tan Son Nhat International Airport. Photo courtesy of Taseco Air Service JSC.

Taseco Air Service JSC, owner of restaurants, duty-free shops and advertising contractor at several airports across Vietnam, has posted a VND31.8 billion ($1.4 million) loss in Q1.

This is the fourth consecutive quarter that the firm has reported a loss as it goes through one of the most challenging times for the aviation industry. International flights remain restricted after more than a year and the Covid-19 outbreak triggered late January hampered domestic travel recovery.

The firm's revenue fell 70 percent year-on-year to VND58.3 billion.

It currently operates over 100 restaurants and souvernir shops at seven international airports nationwide.

The firm has targeted VND317 billion in revenues this year, down 12 percent from last year. It expects to suffer a VND83.87 billion loss this year.