Wednesday , February 8 2023

Airport operator ACV profits surge 10-fold

The Airports Corporation of Vietnam reported pre-tax profits of some VND7.56 trillion (US$315 million) for this year, or 70% of the figure in the pre-pandemic year of 2019.

It represented a 10-fold increase from last year for the operator of 22 airports across the country.

Its revenues were over VND15.38 trillion after doubling from last year.

The bigger profits partly came due to foreign exchange fluctuations, especially between the dong and the yen. Most of ACV’s loans are in the Japanese currency.

The 22 airports served 658,000 flights and 99 million passengers in 2022, 125% and 228% higher than the previous year.

For 2023 the corporation has targets of 116 million passengers, revenues of VND18.41 trillion and pre-tax profits of VND8.45 trillion, up 20% and 11%.

It will focus on some key infrastructure projects, including construction of Long Thanh International Airport in the southern province of Dong Nai, Terminal 3 at Tan Son Nhat International Airport in HCMC and an airport in the northern province of Dien Bien, and expansion of T2 at Noi Bai International Airport in Hanoi and Cat Bi airport in Hai Phong.

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