Vietravel’s loss is nearly 73 billion in Q1

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The first quarter net revenue of Vietnam Traffic Marketing and Tourism Joint Stock Company reached VND 276.6 billion, down nearly 65% ​​year-on-year. The company recorded a loss after tax of 72.8 billion.

Vietravel (HoSE:VTR) recorded first quarter net revenue of VND 276.6 billion, down nearly 65% over the same period in 2020. Revenue decreased sharply while reduced costs did not keep up, causing businesses to record after-tax losses of VND 72.8 billion.

The drop in Vietravel’s revenue comes from the drop in travel service revenue by over 535 billion dong to nearly 72 billion dong. Air ticket sales also dropped by more than half, to 70.6 billion dong.

This shows the impact of the Covid-19 epidemic on enterprises’ business activities in the first three months of the year when the epidemic reappeared.

As of March 31st, Vietravel recorded a negative after-tax profit of more than 102.2 billion dong, an increase of 65.2 billion dong compared to the beginning of the year and surpassed the equity of 102 billion dong of this business. Total capital of Vietravel reached VND 2,042 billion, an increase of over VND 180 billion compared to the beginning of the period. In which, liabilities are about 1,940 billion dong, up by 251 billion dong.

The Covid-19 epidemic caused a 73.3% decrease in the traveler’s revenue in 2020. From having a good profit in 2019, the business recorded a loss of 90 billion VND.

Vietravel Airlines has expanded its domestic flight network to serve travel needs during the holidays April 30 to May 1 as well as the upcoming summer peak. According to business leaders, the number of air slots that the airline is currently granted is only 50% of the demand that Vietravel Airlines needs to operate 3 narrow body aircraft.

Source: – Translated by