Vietravel reaps profit in Q4 after consecutive loss
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Tourism company Vietravel reported VND228 billion ($10 million) profit in Q4 of 2021, after four consecutive quarters of loss.
It posted net revenues of VND190 billion in Q4, down 60 percent compared to the same period of 2020.
“Company activities regained positive changes due to the fact the pandemic was gradually brought under control. Simultaneously, the company had restructured its financial investment,” Vietravel said.
However, Vietravel reported an accumulated loss of more than VND256 billion for the whole 2021, tripling year-on-year, as its core activities of tourism and aviation suffered from Covid-19.
At the end of last year, Vietravel had sold a 55.58 percent stake in Vietravel Airlines to an unspecified investor as it seeks more funding amid Covid financial pressures.
Questions & Answers
Q.What contributed to Vietravel's profit in the fourth quarter?
What contributed to Vietravel's profit in the fourth quarter?
The company attributed its Q4 profit to the pandemic gradually coming under control. Simultaneously, Vietravel also restructured its financial investment, which helped improve its activities.
Q.Despite the Q4 profit, what was Vietravel's overall financial situation for 2021?
Despite the Q4 profit, what was Vietravel's overall financial situation for 2021?
Vietravel reported an accumulated loss of over VND256 billion for the whole of 2021. This loss was three times higher than the previous year due to the impact of Covid-19 on its core businesses.
Q.What action did Vietravel take to secure funding amidst financial pressures?
What action did Vietravel take to secure funding amidst financial pressures?
At the end of last year, Vietravel sold a 55.58 percent stake in Vietravel Airlines. The company sold this stake to an unspecified investor to seek more funding amid ongoing Covid-19 financial pressures.
Q.How did Vietravel's Q4 net revenues compare to the same period in the previous year?
How did Vietravel's Q4 net revenues compare to the same period in the previous year?
Vietravel's net revenues in Q4 were VND190 billion. This figure represents a 60 percent decrease when compared to the revenue earned during the same period in 2020.
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