AST held its 2021 AGM in Hanoi on June 24, 2021. The company announced its estimated H1 2021 results with a loss of around VND68bn vs NPAT-MI of VND500mn in H1 2020. We note that COVID-19 started to have an impact in March 2020, thus H1 2020 included two months of relatively normal operations for both domestic and international terminals.