Many companies make super profits from airport business lounges, but rich customers have few options other than instant noodles and boiled eggs.
On average, the time for passengers to check in and wait to board a domestic flight lasts about 1 hour. With such a stay at the airport, guests have many options to use food service at the airport, in the lounges. Food in these areas is often quite diverse, including ready-to-eat or prepared foods.
Business people, when the frequency of travel is high due to work requirements, they are willing to pay a large sum of money for a luxury flight ticket just to sit in a 3.4-star lounge to enjoy a loaf of bread, a bowl of noodles. shrimp,…in the meantime to save time, bring growth in revenue for service businesses, airport restaurants.
As the only enterprise at Noi Bai airport that provides business class lounge services with 4-star standard design and furniture, the revenue of Noi Bai Airport Services Joint Stock Company (Noi Bai Airport Services Joint Stock Company) NASCO) to a large amount from catering services, restaurants serving passengers while waiting for flights.
Bamboo Airways’ First Lounge
NASCO is a subsidiary of Vietnam’s national airline Vietnam Airlines, currently Vietnam Airlines holds a 51% stake. The total business area of NASCO accounts for 36% of the total area of business premises for aviation fees; Restaurant and food service accounts for 36% of the business area at Terminal T1. The business class lounge of Vietnam Airlines at Noi Bai airport currently costs about 300,000 VND on average.
From 2011 to 2019, NASCO always achieved stable growth, recording revenue of more than 500 billion dong per year, especially breaking through in 2014 (617 billion dong) thanks to benefiting from customers’ flight demand. However, in the past 2 years, due to the impact of the pandemic, which brought the whole aviation industry to a halt, in 2021, the company’s revenue decreased by 26% compared to the previous year to reach VND 251 billion, profit after tax reached VND 89 billion.
Revenue from the restaurant and airport services segment of NASCO also decreased significantly. In 2021, NASCO only earned 56 billion dong from this segment, down 47.2% over the same period in 2020. Prior to 2019, NASCO’s restaurant service in Noi Bai achieved the highest revenue in history, in 265 billion VND, accounting for 44.5% of total revenue of NASCO.
SASCO’s business class lounge
At the southern bridgehead, Tan Son Nhat Airport Services Joint Stock Company (SASCO) is known as one of the largest enterprises dealing in non-aviation services at the airport. The company’s main sources of revenue come from duty-free goods trading, business lounge services, catering, airport hotels and restaurants, which have gradually expanded to rail and resort catering services.
The current shareholder structure of SASCO, other than the State shareholder, is the Airports Corporation of Vietnam ACV (49.07%), with 3 strategic shareholders are companies of Mr. Johnathan Hanh Nguyen.
SASCO’s operating area is mainly at Tan Son Nhat international airport, Cam Ranh international airport expansion, in addition, the company also conducts service business in Phu Quoc with a Sasco Blue Lagoon resort.
Known as the “king” of selling luxury goods in Vietnam, in fact, the profits of Hanh Nguyen’s high-end fashion and cosmetics companies are far less profitable than SASCO’s. Before the pandemic, the above airports were always overloaded with capacity and crowded with international passengers. As a result, SASCO had a steady growth in business results in the period of 2013-2018 and really made a breakthrough in the second quarter of 2019.
Specifically, in 2019, SASCO achieved an impressive revenue of VND 2,895 billion – the best result in 10 years. However, not outside the impact of the epidemic, this unit only achieved 321 billion dong in revenue in 2021 – the lowest level in the history of operation.
Due to the absence of customers, tax-free shops and restaurant services at SASCO’s airport also experienced a significant decrease in revenue. In 2020, SASCO’s duty-free stores achieved a revenue of VND 375 billion, the restaurant segment reached VND 162 billion. Before that, in the period 2015-2019, these were the “goats that laid golden eggs” of Mr. Jonathan Hanh Nguyen with high revenue and steady growth year by year.
Tan Son Nhat domestic station waiting room currently costs about 350,000 VND.
Entering 2022, in the context that Vietnam opens international flights and receives “revival” signals from tourism, airport restaurant services are expected to grow again, continuing to grow. continue to bring high revenue to companies doing this business after 2 years of dismal financial income.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
