Vietravel (VTR) has just announced its financial statements for the second quarter of 2022. Notably, Vietravel improved over the same period, but still lost nearly 7 billion dong after tax.
Specifically, revenue in the period reached nearly VND 1,000 billion, up 4 times over the same period. According to VTR, the above growth was due to the remarkable recovery of Vietnam’s tourism industry during the period. According to a recent report, the number of domestic tourists in the first 6 months of 2022 reached 60.8 million, exceeding the plan set out for the whole year of 2022 (increasing by more than 33% compared to the same period in 2019. before the outbreak of Covid-19).
Deducting expenses, VTR recorded a gross profit of VND 132 billion, compared to a loss of VND 95 billion in the second quarter of 2021 due to the impact of Covid-19.
In contrast, the aviation segment continued to lose money, correspondingly the Company had to record nearly VND 57 billion from its affiliates, mainly from Vietravel Airlines – currently 43.9% owned by Vietravel.
Explaining in detail, VTR said that for the aviation segment, from April, the domestic market began to recover significantly and grow strongly in the following months due to falling into the summer period. Taking advantage of the above recovery, Vietravel Airlines has also increased domestic routes, corresponding to the number of flights of the airline in June 2022, increasing by 10-15% compared to the previous month and by 40% over the same period. .
Currently, Vietravel has invested 571 billion dong in Vietravel Airlines with the corresponding loss in ownership increasing from 192.5 billion at the beginning of the year to 309.9 billion dong on June 30. This equates to a loss of about VND 267 billion for Vietravel Airlines in the first half of the year.
The domestic aviation market in June 2022 reached 5 million passengers, an increase of 21% compared to May 2022 and an increase of 38.8% compared to June 2019.
However, the international market has not recovered, fuel prices spiked (on average nearly doubled over the same period and accounted for 65% of flight revenue at one point), leading to insufficient revenue to compensate. The company’s aviation segment continued to lose money.
Deducting, Vietravel recorded a consolidated loss of nearly VND7 billion, mainly due to the negative impact from the aviation segment.
In the third quarter of 2022, Vietravel expects to reach more than VND 1,000 billion in tourism revenue, as foreign tourists and international visitors to Vietnam will increase in the near future.
For the aviation segment, Vietravel Airlines aims to increase its fleet after organizing recruitment campaigns in Hanoi and Ho Chi Minh City to train its staff and prepare to serve on domestic and international flights in the last 2 quarters of the year.
From July 9-27, 2022 recently, Vietravel Airlines held a recruitment festival with more than 700 candidates. The airline selected the 70 best candidates to serve the plan of exploiting, developing and expanding the flight network in the year, and at the same time increased the number of aircraft to 6 aircraft up to now.
Source: CafeF
Source: Vietnam Insider