Taxi firm Vinasun continues to remain in the red

Taxi operator Vinasun reported a loss of VND66 billion ($2.87 million) for the second quarter, its sixth consecutive quarterly loss as Covid-19 continued to wreck its business.

Revenues were VND150 billion, the lowest since the company listed on the stock market in 2008.

Before the fourth wave of Covid began at the end of April Vinasun had said its financial structure was “stable and healthy” and it hoped to increase market share in the recovering market by investing in 500 new cars to take its fleet size to 3,368 by the end of the year.

It targeted revenues of VND1.05 trillion this year, up 4 percent from 2020, and expected to reduce its losses to VND79 billion from VND210 billion last year.