Airport ground service firm reports $1.4 mln loss
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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 souvenir 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.
Questions & Answers
Q.How long has Taseco Air Service JSC been reporting losses?
How long has Taseco Air Service JSC been reporting losses?
The firm has reported losses for four consecutive quarters. This period coincides with ongoing international flight restrictions and a Covid-19 outbreak in late January that hindered domestic travel recovery.
Q.What kind of businesses does Taseco Air Service JSC operate at airports?
What kind of businesses does Taseco Air Service JSC operate at airports?
Taseco Air Service JSC owns restaurants and duty-free shops. It also acts as an advertising contractor at several airports across Vietnam, currently operating over 100 restaurants and souvenir shops.
Q.What is the company's revenue target for this year?
What is the company's revenue target for this year?
Taseco Air Service JSC has set a revenue target of VND317 billion for this year. This figure represents a 12 percent decrease compared to its revenue from last year.
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