Vietnam Airlines and Vietjet incurred losses of VND10 trillion (US$423.7 million) and VND2.17 trillion last year mainly due to higher fuel prices and forex volatility. - VnExpress International
Airport ground services providers experience K-shaped recovery
By Minh Son February 19, 2021 | 03:00 pm GMT+7
Aircraft are parked at Tan Son Nhat International Airport in Ho Chi Minh City on April 15, 2020. Photo by VnExpress/Quynh Tran.
Companies providing airport services like catering, lounge and advertising and selling duty-free products suffered last year though aviation logistics firms recovered somewhat in the second half.
Most saw revenues fall as the pandemic hit air travel, but at different rates, making for a K-shaped recovery, as logistic firms only suffered slight drops owing to the revival in the second half of the year.
Noibai Catering Services (NCS), the first firm to provide in-flight meals at Hanoi’s Noi Bai Airport, saw revenues plummet by 60.7 percent to VND254 billion ($11 million). It reported a loss of VND52 billion.