During the current outbreak, Vietnam Airlines reported that they may suffer a loss of VND15trn (USD645m) in 2020. In the financial report, Vietnam Airlines announced that they will be able to operate only 14.5 million flights this year, a 36.8% decrease compared to last year. The carrier will carry 2 million international passengers and 12.3 million domestic passengers. Revenue for 2020 is estimated at VND40.6trn (USD1.7bn) or 40.5% of 2019's revenue. The mother company alone will suffer losses of VND14.4trn and a revenue fall of 56.4%. The data excluded unsuccessful activities like when they failed to sell two Airbus 321s in June and six Airbus 321s in late 2020. The pandemic has depleted cash flow and caused huge losses. As a result, Vietnam Airlines said they have applied various measures to cut costs, negotiate with EU export credit agency and local banks. They have also asked the government to provide support to overcome the difficulties. Moreover, Vietnam Airlines must carry … [Read more...] about Vietnam Airlines plans to sell off aircraft to save losses
