Airlines forecast to lose over 15 trillion VND in 2021
Vietnamese airlines are projected to post losses totalling 15 trillion VND (650 million USD) in 2021, with their revenue continuing to plunge from that of last year, according to the Vietnam Aviation Business Association (VABA).
Hanoi (VNA) – Vietnamese airlines are projected to post losses totalling 15 trillion VND (650 million USD) in 2021, with their revenue continuing to plunge from that of last year, according to the Vietnam Aviation Business Association (VABA).
The aviation sector has so far borne the brunt of threewaves of COVID-19 outbreaks, which have frozen international travel. In thefirst two months of this year, their international passenger throughputamounted to 66,600, down 98.8 percent on-year.
These figures were mentioned in the VABA’s proposal forcredit assistance to aviation companies, which was recently submitted to theMinistry of Planning and Investment.
Earlier, Vietnam Airlines obtained a credit package worth 4trillion VND. Besides, Vietjet Air has cried for a creditpackage of between 4-5 trillion VND for 2021 – 2023, with interest rate reducedby 4 percent. Meanwhile, Bamboo Airways has called for a refinancedzero-percent-interest-rate long-term loan of 5 trillion VND and long-term loansworth 5 trillion VND from commercial banks with subsidized interest rates.
The VABA also proposed reducing the environmental tax onfuels to 900 – 1,000 VND per litre and extending deadlines for paying taxes,including corporate income tax, value-added tax, and personal income tax./.
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A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
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The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Illustrative photo (Source: VNA) 
