Vietnam Airlines reports $430M loss on fuel price
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Vietnam Airlines reported a loss of VND10.09 trillion ($430.3 million) last year and blamed it on rises in fuel prices and exchange rate volatility.
Its revenues were worth around VND71 trillion, equivalent to 70% of revenues in 2019 before the Covid-19 pandemic hit but higher than the combined figures of 2020 and 2021.
As of last year the carrier had accumulated losses of VND34.2 trillion.
Yet it remains optimistic about 2023 since global markets have been recovering since late 2022 and said it would take measures to address the losses issues.
Questions & Answers
Q.What was the total revenue for Vietnam Airlines last year?
What was the total revenue for Vietnam Airlines last year?
Vietnam Airlines recorded revenues of approximately VND71 trillion last year. This figure represents 70% of the revenue achieved in 2019, before the impact of the Covid-19 pandemic.
Q.What are the main reasons Vietnam Airlines gave for its financial losses?
What are the main reasons Vietnam Airlines gave for its financial losses?
The airline attributed its VND10.09 trillion loss to increased fuel prices and instability in exchange rates. These factors significantly impacted its operational costs throughout the year.
Q.Does Vietnam Airlines expect its financial situation to improve this year?
Does Vietnam Airlines expect its financial situation to improve this year?
Yes, Vietnam Airlines maintains an optimistic outlook for 2023. This optimism stems from the recovery observed in global markets since late 2022, and the company plans to implement measures to address its losses.
Q.What is the total accumulated loss for Vietnam Airlines as of last year?
What is the total accumulated loss for Vietnam Airlines as of last year?
As of last year, Vietnam Airlines had accumulated losses totalling VND34.2 trillion. This figure includes the most recent loss of VND10.09 trillion reported for the previous year.
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