Vietnam’s domestic media is reporting that Vietnam Airlines recorded a profit from ‘transportation activities’ in the fourth quarter of 2023, neglecting to mention that on the whole the airline recorded a loss in Q4 of VND 2,065 or US$84.6 million. This angle on these latest figures has been expressed by most local press outlets, however, credit where credit is due, VN Business has covered it as the airlines’ 16th consecutive quarter without profit.

For background, Vietnam Airlines has been struggling for years but as the national carrier key decision makers have pulled out just about all stops to keep the airline alive. For example, the firm has been in negative equity for three years and provided financial statements well past their due date which really should have seen it delisted from the Ho Chi Minh City Stock Exchange. It is, however, still there with changes proposed to listing regulations tabled that would give the government the ability to intervene in delisting-assessments in ‘special cases’. See–How Vietnam Airlines might be able to remain listed on the HoSE.