Sunday , June 23 2024

Vietnam Airlines reports $430M loss on fuel price, exchange rate volatility

Vietnam Airlines reported a loss of VND10.09 trillion ($430.3 million) last year and blamed it on rises in fuel prices and exchange rate volatility.

Its revenues were worth around VND71 trillion, equivalent to 70% of revenues in 2019 before the Covid-19 pandemic hit but higher than the combined figures of 2020 and 2021.

As of last year the carrier had accumulated losses of VND34.2 trillion.

Yet it remains optimistic about 2023 since global markets have been recovering since late 2022 and said it would take measures to address the issues of losses.

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