ACV revenue and profit to tumble

Monday, Jul 06, 2020 15:40

Fewer passengers have been carried through Da Nang International Airport this year. — VNA/VNS Photo Huy Hung

As the local aviation industry is suffering due to the COVID-19 pandemic, the Airports Corporation of Viet Nam (ACV) is projecting that in 2020, it will record only half of the revenue it got last year.

ACV expects to have passenger output excluding international routes from Da Nang and Cam Ranh international airports of 65.2 million, down 37 per cent from last year. It also expects fewer goods shipments at more than 1.3 million tonnes, down 13 per cent compared to 2019.

The ACV estimated it would record total revenue of VND11.3 trillion (US$489.3 million) and total profit before tax of more than VND2 trillion.

The firm chairman Vu The Phiet said financial activities exceeded goals last year with total revenue reaching more than VND20 trillion and profit after tax VND8 trillion.

As for the difficulties this year, Phiet said the firm will focus on strengthening discipline, prioritising investment in security and improving the service quality.

The firm will regularly monitor, evaluate and forecast the market recovery of COVID-19 to have appropriate solutions and adjustments to ensure production and business activities.

It will minimise operational costs and adjust investment schedules for a number of projects to meet market demand and to ensure capital efficiency.

In 2020, the ACV will focus on speeding up investment projects in key projects such as building a new passenger terminal at Tan Son Nhat International Airport, as well as expanding passenger terminals at Ha Noi's Noi Bai International Airport and Hue City's Phu Bai International Airport.

It will promote IT in management and administration in all systems. In the third quarter, it established and operated a non-stop toll system and equipped the aviation operational information management system for 21 airports.

Last year, the number of passengers through the port in 2019 maintained two-digit growth, exceeding 116 million arrivals. — VNS

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