On the morning of April 25, Taseco Air Service Corporation (Taseco Airs, stock code: AST) held its 2024 Annual General Meeting of Shareholders, approving the presentations of the Board of Directors.
Overview of Taseco Airs’ 2024 AGM
 2023: OPENING 20 MORE BUSINESS OUTLETS, PROFITS RECOVERING
In 2023, the company achieved nearly 1,100 billion VND in revenue and 150.5 billion VND in after-tax profit, a strong increase compared to 2022.
The board of directors of the meeting said that for the aviation industry, the domestic passenger output in 2023 exceeded that of 2019 (the year before the Covid-19 pandemic), while international passenger output has also recovered by about 77%.
In the context of market recovery, Taseco Airs has taken the initiative to accelerate market share expansion by completing investment, repairing, and putting into operation more than 20 business outlets and successfully converting the model for 03 business outlets at airports nationwide.
It is known that the company has tested new business models at a number of outlets in Noi Bai such as Sky Bistro, Sky Bakery…, initially bringing positive business results. In addition, in 2023, the company also expanded and developed more than 600m2 of space for the new Business Lounge.
As of December 31, 2023, Taseco Airs and its member units have a total of 120 business outlets located throughout the country’s major international airports.
The AGM approved the dividend payment plan for 2023 at a rate of 12% in cash.
2024 PLAN FORECAST TO REACH 1,350 BILLION VND, DIVIDEND 25-30%
In 2024, Taseco Airs plans to achieve revenue of 1,350 billion VND – an increase of 22.8% and after-tax profit is expected to reach 181 billion VND – an increase of 20.3% over 2023. The dividend rate is expected to be 25-30%.
Taseco Airs will focus on building a new brand identity system, along with focusing on developing Taseco Airs branded products at kiosks at airports throughout the system. On the other hand, we will continue to follow the plan for non-aviation services at new terminals and airports such as Long Thanh Airport, Tan Son Nhat Terminal 3, and Noi Bai Terminal 2 expansion to participate in bidding to increase the scale of business operations.
Mr. Le Anh Quoc – General Director of the Company said that Taseco Airs continues to seek opportunities, participate in business cooperation to have more new business outlets in 2024. At the same time, promoting and expanding potential business areas at Airports, proactively seeking, diversifying customer sources for Lounge services of airlines, banks, corporations, businesses and high-income retail customers…
The production and business plans are based on the forecast that the aviation market will continue to recover and grow strongly in 2024 with positive signs and favorable conditions from tourism development policies of localities in the country and countries around the world.
However, Taseco Airs also assesses the risk from low passenger demand due to weak purchasing power, increasingly fierce competition in the market from direct and indirect competitors, especially the increasing number of shopping malls, convenience stores in urban centers, and the development of online sales channels and e-commerce.
For the hotel sector, Taseco Airs will continue to repair and improve the infrastructure and image of the À La Carte Da Nang Hotel to improve service quality, anticipate the recovery of the Da Nang tourism market in 2024 and subsequent years.
