Vietravel loss triples in year’s first half
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Leading tourism company Vietravel, which has only now published its first-half earnings report, saw losses triple year-on-year to VND293.3 billion ($12.75 million) due to Covid-19 travel restrictions.
Revenues were down by nearly half to VND545 billion while costs rose 42 percent to VND65.6 billion.
Its carrier, Vietravel Airlines, recently resumed operations after being grounded for three months, and plans its first flight on Dec. 19.
Vietravel’s stock is limited to trading on Fridays due to its delay in publishing its results.
Questions & Answers
Q.Why did Vietravel's losses increase so significantly?
Why did Vietravel's losses increase so significantly?
The company's losses tripled due to widespread Covid-19 travel restrictions, which severely impacted the tourism sector. This led to revenues nearly halving while operational costs still rose by 42 percent during the period.
Q.How much revenue did Vietravel generate in the first half of the year?
How much revenue did Vietravel generate in the first half of the year?
Vietravel's revenues were down by nearly half, reaching VND545 billion in the first six months of the year. This figure is significantly lower than previous periods, reflecting the impact of travel restrictions.
Q.When is Vietravel Airlines expected to resume flights?
When is Vietravel Airlines expected to resume flights?
Vietravel Airlines, which was grounded for three months, recently resumed operations. Its first flight is planned for December 19, marking its return to service after a period of inactivity.
Q.Why is Vietravel's stock trading restricted?
Why is Vietravel's stock trading restricted?
Trading in Vietravel's stock is currently limited to Fridays only. This restriction is a consequence of the company's delay in publishing its first-half earnings report.
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