The Commission for the Management of State Capital at Enterprises (CMSC), or ‘super committee’, has reported big losses incurred by 19 economic groups and general corporations because of the coronavirus.

Enterprises in the transport sector have suffered the most from the epidemic.

Vietnam Airlines Corporation (VNA) reported a sharp fall in the number of passengers traveling by air. VNA has to cut the number of flights and air routes to minimize losses.

Traveling between Vietnam and China has dropped dramatically. The occupancy rate on flights between the two countries in January 2020 fell by 5 percent to 66 percent, though January was Tet month. Meanwhile, the number of passengers booking tickets in February was 20-30 percent less.

The holding company predicted sharp revenue decrease of up to VND12.5 trillion this year and profit decrease of VND5.88 trillion, which means a loss of VND4.3 trillion. The air carrier initially planned to make a profit of VND1.6 trillion.

The Commission for the Management of State Capital at Enterprises (CMSC), or ‘super committee’, has reported big losses incurred by 19 economic groups and general corporations because of the coronavirus.

As for the Airports Corporation of Vietnam (ACV), the number of passengers is predicted to decrease by 12 million. Because of this, the corporation’s revenue may decrease by VND2.8 trillion, while the pre-tax profit would fall by VND2.6 trillion.

Meanwhile, Petrolimex reported that the total domestic sales in January 2020 was 800,000 cubic meters, down by 4 percent compared with December 2019 and 89 percent compared with January 2019.

Since the Covid-19 epidemic declaration, the daily domestic sales have decreased by 20 percent.

Vinacafe complained that the coffee sales have been going slowly with the selling prices lower than the production cost by VND5-8 million per ton and the export price down to $1,260 per ton.

The problem of the Vietnam Forestry Corporation (Vinafor) is that many Chinese clients have stopped importing wood chips, resulting in a decrease of wood chip export prices.

As for the Vietnam Railway Corporation, many trains have had to stop running because of the sharp fall in number of travelers in Covid-19 epidemic. On February 4, the corporation officially stopped the Vietnam-Nanning international connecting train.

The revenue from passenger transport is predicted to decrease by VND54.8 billion, down by 13.3 percent, while the revenue from cargo transportation is predicted to decrease by VND9.9 billion.

Meanwhile, Vinalines, the national shipping firm, complained that there is no cash flow for debt repayment and fleet maintenance.

The corporation predicted that if the epidemic lasts until the end of March, its combined revenue would decrease by VND1.621 trillion and profit by VND534 billion compared with the plan.

The situation of the Vietnam Expressway Corporation is also unsatisfactory. The fee collection from expressways decreased by 14.1 percent on Feb 8-13 alone.

Le Ha 

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