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Vietnam Airlines likely to make losses $604-$647 million this year - govt


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Vietnam Airlines likely to make losses $604-$647 million this year - govt

 

2020-11-26T105426Z_1_LYNXMPEGAP0I0_RTROPTP_4_CHINA-HEALTH-VIETNAM.JPG

FILE PHOTO: A health worker sprays disinfectant outside a Vietnam Airlines airplane to protect from the recent coronavirus outbreak, at Noi Bai airport in Hanoi, Vietnam February 21, 2020. REUTERS/Kham

 

HANOI (Reuters) - Vietnam Airlines will likely make losses of 14 trillion-15 trillion dong ($604-$647 million) this year due to the coronavirus pandemic, the government said on Thursday.

 

It would take up to three years for local airlines to fully recover from the pandemic, the government said in a statement on its website.

 

Last week, Vietnam's National Assembly, the country's lawmaking body, approved a government plan to boost the capital of the airlines, which reported a net loss of $453 million for the first nine months of this year.

 

The country's flag carrier is 86% owned by the government.

 

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-- © Copyright Reuters 2020-11-27
 
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Millions of people will end up in poverty and/or dying of other reasons than covid before this thing is over if they don't open up. The downward spiral could be eternal with a few big cats owning everything and everyone.

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Well, Vietnam Airlines, if managed by the same skilled bunch of crooks like Thai Airways, could operate for 15 years with such losses every year and still be operational. 

Difference is, that Vietnam Airlines can explain these losses to Corona; with Thai Airways the excuses, lies and cheats are still outstanding and nobody ever faced the music - yet that is (and it, most likely, will never happen)..... 

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