Analyst Pin-board ACV: 8M-2020 Update & Proposal of Assigning Public Airfield Assets to ACV of Ministry of Transport
Total air passenger volume in August 2020 was affected immediately after the Covid-19 outbreak occurred at the end of July, causing the airways connecting to Da Nang to be cancelled and the travel plans of many passengers had to be postponed. We estimate total air passenger volume in Q3-2020 to reach approximately 13.6 mn (-48.5% YoY) as international passenger volume in September continues to remain low. Domestic passenger traffic in September improved compared to the previous month (+33% MoM) thanks to the fact that airways connecting to Da Nang were able to resume operations as infections in the community were quickly controlled. Accordingly, Q3-2020 revenue is estimated at VND 1.339 bn (-49% YoY) and pre-tax profit at VND -32 bn (-101% YoY).
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