Vietnam Airlines revenues at 74% of pre-Covid levels

By Anh Tu   December 31, 2022 | 12:12 am PT
Vietnam Airlines revenues at 74% of pre-Covid levels
Vietnam Airlines aircraft seen at Tan Son Nhat International Airport in Ho Chi Minh City in January 2021. Photo by VnExpress/Quynh Tran
Vietnam Airlines reported revenues of VND72.36 trillion (US$3.02 billion) in 2022, 74% of the 2019 figure.

This year's revenues are VND3.9 trillion more than the combined revenues of the previous two years, its CEO, Le Hong Ha, said at a recent review meeting. The airline carried over 18 million passengers and 211,900 tons of cargo

It is expected to incur losses of VND9.2 trillion as against a target of VND9.3 trillion.

Expecting travel demand and recovery to be affected by recession, inflation, the Russia-Ukraine conflict, and rising fuel prices, the carrier will next year focus on enhancing efficiency and increasing labor productivity by 14% from 2019, the year before Covid began.

Its stock, HVN, would be delisted if the carrier again reports a loss or negative equity this year, the Ho Chi Minh Stock Exchange had warned in September.

Trading is already restricted after Vietnam Airlines posted negative equity of VND2.16 trillion in the first quarter and losses for the two most recent years.

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