Vietnam Airlines warns of big loss for first nine months of 2020

Vietnam Airlines has warned of a consolidated loss of D10.8t ($464m) in the first nine months of 2020, as the coronavirus pandemic takes its toll on operations. The company adds that it expects consolidated revenues of D23.9t for the first nine months of the year, a quarter of the D77.7t revenue generated in the first nine months of 2019. The consolidated loss represents a massive swing from the consolidated pre-tax profit of D3.3t the airline generated during the first nine months of 2019. The consolidated figure includes the mainline carrier as well as unites such Pacific Airlines, VASCO, and affiliate Cambodia Angkor Air. The carrier lists a number of actions that it has taken to deal with the crisis, which includes cutting costs, extending payment schedules, reducing non-urgent investments, operating charter flights to repatriate citizens, restructuring its organisation, operating cargo flights, and disposing of older aircraft. The airline is operating 60 domestic routes with an average of 300 flights daily. Passenger volumes are 12% higher than a year ago.<br/>