Vietnam Railways returns to profit
Vietnam Railways returns to profit
After months of losses, state-owned railway giant Vietnam Railways (VNR) starts to expect a profitable year in 2022.
According to VNR, during the summer holiday from April 30 to May 1, the railway industry witnessed a rebound in the number of passengers and cargo.
In particular, between April 29 and May 3, the railway industry operated 192 trains on routes carrying out over 123,000 passengers, thus enabling it to make a revenue of $1.7 million.
Among railway routes, short routes like the Hanoi-Haiphong one saw rises of 50 per cent in the number of passengers and 76 per cent in revenues.
Seat occupancy on trains is high, reaching about 90 per cent. On some routes, the rate is even higher.
A representative of VNR said that with this encouraging result, the industry is boosting the summer through promotional programmes and flexible ticket prices.
VNR and its units have faced some major losses over the past two years. In 2021, VNR reported a loss of around $30 million.
This year, VNR will focus on cargo transport with the aim of making just over $25 million in pre-tax profits.
