Revenue increased by one and a half times, loss after tax decreased by one third over the same period
Vietnam Airlines Corporation – JSC (Vietnam Airlines) has just announced its financial report for the first quarter of 2022, with net revenue of 11,620 billion VND, a strong growth again compared to the same period last year in the context of operations. Air travel has been reopened.
In the revenue structure of Vietnam Airlines, domestic transportation revenue grew by 96.5% and international transportation increased by 71%. In contrast, trip rental revenue decreased by 21.1%.
Revenue increased by 56% over the same period last year, but Vietnam Airlines still suffered a gross loss of nearly 1,600 billion dong. Compared to the same period, gross loss decreased by 47%. This year, the company has another income of 121 billion dong from liquidation of aircraft, sale and leaseback (SLB) of aircraft engines.
Deducting expenses, Vietnam Airlines’ net loss from business activities is 2,742 billion dong, pre-tax loss is 2,621 billion dong and after-tax loss is 2,686 billion dong. The number of losses decreased by 34% over the same period due to the reduction of losses of the parent company and some large-scale profitable subsidiaries such as Skypec, Vaeco, Viags…
Thus, by the end of the first quarter of 2022, Vietnam Airlines has increased its accumulated loss to 24,574 billion dong, negative equity back to -2,160 billion dong. Vietnam Airlines used to have negative equity in the second quarter of 2021, but then the airline increased capital, helping to maintain positive equity until the end of 2021, thereby helping the stock not to be delisted on the stock exchange. stock.
Previously, Vietnam Airlines had requested to postpone the publication of financial statements for the first quarter of 2022, but it was not approved by the State Securities Commission. The reason given by Vietnam Airlines is that many accounting staff have to be isolated and treated for COVID-19. The remaining staff must give priority to completing the audited financial statements for 2021, so they cannot focus on preparing the financial statements for the first quarter of 2022. Vietnam Airlines then also committed to fully disclose the financial report for the first quarter of 2022, but did not specify a specific time limit.
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