Once the goose that laid golden eggs, Mr. Johnathan Hanh Nguyen’s Cam Ranh International Terminal lost its equity after only 2 years of Covid.
According to the financial report of Noi Bai Airport Services Joint Stock Company (Nasco) – the enterprise with the second largest share of equity capital Cam Ranh International Terminal Joint Stock Company (CRTC) after Lien Pacific Group (IIP Group) by Mr. Johnathan Hanh Nguyenas at December 31, 2021, CRTC has liabilities greater than total assets, negative equity.
It is known that Cam Ranh International Terminal Joint Stock Company is the investor of Cam Ranh International Terminal project – Cam Ranh International Airport is a dedicated work invested by 5 investors including: Port Corporation Vietnam Airlines (ACV), Inter-Pacific Import-Export Company Limited (IPP Group), Viet Xuan Moi Joint Stock Company, Nasco Freight Forwarding Company and Vietjet Aviation Joint Stock Company. In which, IPP Group holds 55% of shares, Nasco holds 15% and the remaining 3 companies, each own 10% of CRTC shares.
Cam Ranh international terminal was started in September 2016, built and completed within 19 months.
The project was licensed by the Civil Aviation Authority of Vietnam on June 28, 2018 and officially put into operation on June 30, 2018 with an initial investment of VND3,735 billion, total floor area of 50,500 m2.
Designed in the shape of a bird’s nest, a typical bird of Khanh Hoa province, Cam Ranh International Terminal is fully invested with modern aviation equipment, meeting Skytrax’s 4-star standard.
In 2019, Cam Ranh International Airport served 10 million customers through the port.
However, from the beginning of 2020, the Covid-19 epidemic became a pandemic spreading around the world, seriously affecting the world aviation industry and Vietnam.
In an effort to control the pandemic, Vietnam has taken measures such as social distancing, restricting people coming from epidemic areas, etc. Cam Ranh station was severely affected while inaugurated for nearly 2 years.
In 2020, CRTC recorded a revenue of only VND 222 billion, equal to 16% of 2019 and less than half of 2018 even though 2018 CRTC only operated for half a year. The company’s after-tax loss is 469 billion dong in 2020. By 2021, although the specific number is unknown, based on Nasco’s information, we know that CRTC has a negative equity loss.
However, Mr. Hanh Nguyen is still burning ambition with aviation. In 2021, he established IPP Air Cargo and the project is being appraised by the Civil Aviation Administration of the project to open a cargo airline. This is the first specialized aviation project for cargo transport in Vietnam, with a total investment of VND 2,400 billion.
It is expected that in the first year of operation, IPP Air Cargo will operate 5 cargo planes; in the second year will increase to 7 units and increase to 10 units in the 3rd year. And it is expected to start being profitable from the 3rd year.
Mr. Hanh Nguyen plans to build 5 logistics warehouses at Tan Son Nhat, Noi Bai, Cam Ranh, Da Nang, Can Tho airports and later on Long Thanh to bring goods from abroad to gather at these hubs. After that, IPP Air Cargo will use cargo planes, covering 16 other domestic airports.
at Blogtuan.info – Source: Soha.vn – Read the original article here
