Vietnam Airlines revenue recovers in Q1

Sunday, May 22, 2022 14:49

Vietnam Airlines had better net revenue in Q1. — Photo courtesy of the airline

The national flag carrier Vietnam Airlines announced net revenue of VND11.6 trillion (US$504.3 million) in Q1, strong growth compared to the same period last year.

The airline's revenue recovered, but its equity was still VND2.16 trillion as of March 31, 2022

In the revenue structure, domestic transportation revenue grew by 96.5 per cent and international transportation increased by 71 per cent.

According to the financial report, the net revenue increased by 56 per cent over the same period last year, but Vietnam Airlines still suffered a gross loss of nearly VND1.6 trillion.

Compared to the same period, gross losses decreased by 47 per cent. This year, the firm had a further income of VND121 billion dong from the liquidation of aircraft and the sale and leaseback of aircraft engines.

Deducting expenses, Vietnam Airlines' net loss from business activities was VND2.7 trillion, the pre-tax loss was over VND2.6 trillion, and the after-tax loss was VND2.686 trillion.

By the end of the first quarter of 2022, Vietnam Airlines' accumulated loss was more than VND24.57 trillion. — VNS

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