Vietnam Airlines has accumulated losses of nearly a billion USD

Vietnam Airlines Corporation (Vietnam Airlines) has just announced business results for the fourth quarter and the whole year of 2021.

Accordingly, the company’s fourth quarter revenue reached more than VND 9,200 billion, an increase of more than VND 1,000 billion compared to the same period in 2020, accumulated for the whole year, revenue reached VND 28,093 billion, down 31% compared to the same period last year. And HVN’s profit after tax in the fourth quarter of 2021 suffered a loss of 1,184 billion dong, accumulating a loss of 13,337 billion dong.

Three years of the impact of the epidemic caused the undistributed profit on the company’s balance sheet to be negative 21,978 billion dong, eroding most of the owner’s contributed capital of 22,143 billion dong.

The firm’s equity is still positive thanks to the National Assembly’s approval of a rescue package of VND 12,000 billion. Accordingly, the company made a capital increase 7,961 billion VND In September 2021, SCIC alone paid to buy shares about 6,880 billion VND.

After the above plan, the State Capital Management Committee is still the largest shareholder, accounting for 55.2% of the capital, followed by SCIC with 31.14% of shares and ANA Group with 5.62%.

As of December 31, 2021, total assets of Vietnam Airlines reached more than VND 63,000 billion, short-term debt of VND 14,374 billion, an increase of more than 3,000 billion compared to the beginning of the year, long-term loans of VND 20,424 billion, a decrease of more than 2,400 billion compared to the beginning of the year. early 2021.

Now that the epidemic is actively controlled in many countries, Vietnam Airlines has planned to resume regular international flights between Vietnam and 15 territories in the first half of 2022.

The opening of international regular routes is expected to bring significant recovery opportunities for Vietnam Airlines after two years of the epidemic. The holidays of April 30 to May 1 and the peak of summer are also expected to help the airline overcome difficulties after 3 years of Covid-19.

Thi Ha