Vietravel posts $3 mln loss in Q1

Tourism company Vietravel has already posted a loss of VND72.8 billion ($3.15 million) this year, or 81 percent of the loss it suffered in the whole of last year.

Revenues fell nearly 65 percent to VND277 billion as the Covid-19 outbreaks in the first quarter hit travel.

Its accumulated losses as of the end of March were over VND102 billion, or higher than its equity.

The company targets an increase of 411 percent in revenue to VND6.24 trillion this year and a pre-tax profit of VND10 billion.

In the first quarter it spent nearly VND59 billion on its new carrier, Vietravel Airlines, which began operations at the end of last year.