Milk tea on flights fetches Noibai Catering Services rising revenues
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Airline catering company Noibai Catering Services earned revenues of nearly VND22 billion ($936,947) from selling milk tea last year, over 63% of it from sales aboard flights.
According to its annual report, the company put milk tea on flight menus in July 2022.
NCS’s milk tea is available on Vietnam Airlines flights at VND50,000 a cup and also on other flights through other airline catering companies such as VACS and MASCO.
The company’s losing streak due to Covid-19 snapped in 2022, when it made profits before tax of VND5 billion on revenues of VND410 billion, three times the 2021 figure and 60% of the pre-pandemic revenues.
It had suffered losses of VND38 billion and VND77 billion in the previous two years.
In 2023 it has continued to recover strongly, with first-quarter revenues rising 2.5 times year-on-year to VND150 billion in.
Its profit was VND10.5 billion.
NCS said the aviation market has recovered completely, causing its own revenues and profits to soar.
Questions & Answers
Q.When did Noibai Catering Services start offering milk tea on flights?
When did Noibai Catering Services start offering milk tea on flights?
The company introduced milk tea to its flight menus in July 2022. It earned nearly VND22 billion from milk tea sales last year, with over 63% coming from onboard sales.
Q.How much profit did Noibai Catering Services make in 2022?
How much profit did Noibai Catering Services make in 2022?
Noibai Catering Services made a profit before tax of VND5 billion in 2022. This followed losses of VND38 billion and VND77 billion in the two preceding years.
Q.What was the revenue of Noibai Catering Services in the first quarter of 2023?
What was the revenue of Noibai Catering Services in the first quarter of 2023?
In the first quarter of 2023, Noibai Catering Services achieved revenues of VND150 billion. This figure represents a 2.5 times increase compared to the same period last year.
Q.Which airlines offer Noibai Catering Services' milk tea to passengers?
Which airlines offer Noibai Catering Services' milk tea to passengers?
Noibai Catering Services' milk tea is available on Vietnam Airlines flights. It is also offered on other flights through additional airline catering companies, including VACS and MASCO.
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