Vinacs signed a contract to provide meals for 2 airlines.

The signing of cooperation agreements with Vietjet Air and Bamboo Airways has increased the number of Vinacs partners in the field of providing airline catering to 23 airlines.

Recently, Vietnam Air Catering Services Joint Stock Company (Vinacs) signed a long-term contract with Bamboo Airways and Vietjet Airs to provide meals and catering services for daily flights of these two airlines.

Bamboo Airways decides service at VINACS

Vinacs is also a partner in catering services for 21 other airlines, mainly foreign airlines such as Qatar Airways, Malindo, Royal Flight Airlines, Azur Air, Ikar Airlines, Okei Airways, Norwind Airlines…

Currently, the company operates at 4 airports including Noi Bai, Cat Bi, Cam Ranh and Phu Quoc. In Cat Bi and Phu Quoc, Vinacs is the only catering supplier, with flight traffic at these 2 airports reaching 8-10 flights/day. In Cam Ranh, Vinacs accounts for about 85% of the catering market, as of the end of December 2018.

VINACS performed at VIETJET headquarters in November 2017

With two factories in Noi Bai and Cam Ranh, Vinacs can supply over 40,000 meals per day. According to Rong Viet Securities Company, the demand for airline meals in Vietnam is about 120,000 meals per day, while the total supply only reaches 52%, equivalent to 62,000 meals. Thus, the company can completely maximize output and increase revenue.

Catering vehicles for airline flights

Vinacs is the only private company in the catering industry, pursuing a strategy of being present at major airports in Vietnam and covering the entire domestic market. This enterprise has a major shareholder, Taseco Aviation Services Joint Stock Company (HoSE: AST) - a unit with many years of experience in providing aviation services such as cafes, fast food, department stores - souvenirs, restaurants... with the Lucky brand; duty-free sales, advertising at airports...

According to the 2018 financial report, Taseco Airs achieved revenue of VND865 billion. Profit after tax reached VND163 billion. Recently, Taseco Airs also sent a notice to close the right to pay a 15% cash dividend on March 18 and plans to continue paying a 25% dividend after being approved by the 2019 Annual General Meeting of Shareholders.

According to a report by Viet Capital Securities (VCSC), the number of international visitors to Vietnam achieved a compound annual growth rate of 27% in the 2015-2017 period, higher than the Asia Pacific region (6.6%), ASEAN (7.4%) and Thailand (8.8%). The securities company also cited the forecast of the International Air Transport Association (IATA), Vietnam will be among the five countries with the highest increase in passenger numbers in the next 20 years.

Passenger numbers continue to grow thanks to a booming tourism industry and an expanding young middle class, while air travel penetration remains low and low-cost carriers are growing strongly. These factors will have a positive impact on aviation service businesses and Vinacs and Taseco Airs in particular.

According to ndh.vn