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Vietnam Airlines reduced nearly 3,000 billion dong in loss

In the consolidated financial statements for the fourth quarter of 2022, Vietnam Airlines revealed that the total salary and remuneration of the Board of Directors, Supervisory Board and Executive Board is currently VND 9.63 billion, a slight increase compared to the whole year of 2021.

The average salary of the Board of Directors, Supervisory Board and Executive Board of the national airline is 67.24 million VND/person/month. The average remuneration of the Board of Directors and Supervisory Board is 10.14 million VND/person/month.

Notably, the person receiving the highest salary and remuneration for the Board of Directors, Supervisory Board, and Executive Board is General Director Le Hong Ha. Mr. Ha received nearly VND 1,047 billion in 2022, equivalent to nearly VND 87.25 million/month. This salary has increased slightly compared to the total salary of more than 987 million VND in 2021.

Mr. Dang Ngoc Hoa – Chairman of the Board of Directors ranked second with 875.9 million dong, equal to 88% compared to the same period in 2021 of 993 million dong. On average, Mr. Hoa receives 73 million VND per month.

Business profile - Vietnam Airlines reduced nearly 3,000 billion dong in loss

Table of salary and remuneration of the Board of Directors, Supervisory Board and Executive Board of Vietnam Airlines.

Hoa, two members of the Board of Directors Ta Manh Hung, Le Truong Giang and Head of the Supervisory Board Ms. Nguyen Thi Thien Kim received the same amount of 737,6 million VND.

Meanwhile, both are members of the Board of Directors, but Mr. Dinh Viet Tung and Truong Van Phuoc only receive salary and remuneration of 129 million/year.

The last individuals to receive salary and remuneration of 841.7 million VND (an average of over 70 million VND/month) include 3 Deputy General Directors, Trinh Ngoc Thanh, Trinh Hong Quang, Nguyen Chien Thang and Chief Accountant Tran. Thanh Hien.

Other Deputy General Directors appointed from May 1, 2022, including Mr. Le Duc Canh and Nguyen The Bao, received the same salary and remuneration of 561.8 million VND/year.

In the last quarter of 2022, Vietnam Airlines reported a loss of nearly VND 2,700 billion. This is the 12th consecutive quarter that the airline has made a loss.

For the whole year of 2022, the total revenue of Vietnam Airlines reached VND 70,500 billion, an increase of 2.5 times compared to the whole year of 2021 and equivalent to over 70% of the pre-epidemic level in 2019 but still cannot help the airline cover the costs. increased sharply in the context of jet fuel prices, the exchange rate increased sharply last year.

For the whole year of 2022, Vietnam Airlines has a net loss of VND 10,091 billion. However, this loss was reduced by 3,000 billion VND compared to 2021 and lower than the plan set out in the middle of the year.

By the end of the fourth quarter of 2022, Vietnam Airlines recorded a cumulative loss of nearly VND 34,200 billion. Negative equity is about 10,200 billion, while the beginning of the year is still positive over 500 billion.

This also pushed the airline’s stock to the brink of delisting because HOSE had previously emphasized the possibility of the national airline being delisted if the 2022 audited consolidated financial statements continued to lose net or capital. owner is negative.

By the end of December 31, 2022, the national airline owned 12,316 billion dong of short-term assets, of which 3,390 billion dong were cash and short-term investments. Vietnam Airlines’ short-term debt is up to 53,139 billion dong, which is more than 4.3 times its current assets.

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