Vietnam News

Mien Tay Bus Station reports first loss

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HCMC’s Mien Tay Bus Station JSC reported a loss of more than VND7.3 billion ($320,780) for the first time in Q3 due to the implementation of anti-pandemic measurers.

Revenue of the passenger transport operator hit nearly VND600 million in the third quarter of this year, down 98 percent compared to the same period of 2020.

Suspending operations during the social distancing order, the company mainly survived by collecting service fees for cargo vehicles at the terminal.

During January-September, revenue dropped by 38 percent to more than VND50 billion, equivalent to one-third the 2021 plan.

Post-tax profit recorded a decrease of 67 percent to nearly VND14 billion, equivalent to one-fourth the profit target.

In a recent move, Ho Chi Minh City plans to reopen inter-provincial buses from November to meet the demand of workers returning to the city, a hub of industrial and processing parks.

However, passenger transport routes are required to operate 50 percent of the frequency, gradually increasing as scheduled.

Previously, the inter-provincial passenger transport service had suffered seriously from the high-Covid-risk city’s decision on ceasing operations to prevent and control the pandemic from June 20.

By Tat Dat – VnExpress.net – October 16, 2021

Mien Tay Bus Station reports first loss
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