Analyst Pin-board ACV: Update on Q1 2020 Business Results; Cutting 2020F Earnings by 61%
Q1 2020 earnings are expected to decline 25% YoY
Estimated total air passenger traffic reached 24.6 mn pax in 1Q 2020, a sharp drop of 11% YoY, following the Government’s stricter control over travel ban as well as foreigners’ entry suspension to curb the coronavirus’s spread. In particular, int’l pax volume was down 29.0% YoY whilst domestic traffic declined by 0.5% YoY. In line with this, estimated Q1 2020 revenue and PBT are expected to plunge by 8.4% YoY and 24.9% to VND 4.1 Tn/VND 1.9 Tn.
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