Airport operator ACV to see profit drop 80 pct

By Dat Nguyen June 26, 2020 | 05:00 pm PT

Passengers check in at Noi Bai International Airport in Hanoi. Photo by Shutterstock/gracethang2.

The Airports Corporation of Vietnam expects a pre-tax profit plunge of 80 percent this year to VND2 trillion ($86 million) due to coronavirus impacts.

The state-owned company, which operates 21 airports, also anticipates its revenue to fall 45 percent to VND11.3 trillion ($488 million), according to a release.

It said passenger numbers passing through Vietnam airports is set to plunge 41 percent from last year to 69.2 million in 2020. Cargo delivery is set to fall 13 percent to 1.3 million tonnes.

Although domestic flights have been resumed, international routes have yet to follow suit, the latter contributing a larger revenue, ACV stated.

During the following two years, the company plans to prioritize investment in the construction of a second terminal at Phu Bai International Airport in the central province of Thua Thien-Hue and a third terminal at Tan Son Nhat International Airport in Ho Chi Minh City.