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Strong 9M performance for Vietnam Airlines

Released at: 13:53, 12/10/2016

Strong 9M performance for Vietnam Airlines

Photo: Vietnam Airlines

Surging profit among many positive indicators for national flag carrier during first nine months of 2016.

by Do Huong

Vietnam Airlines (VNA) earned VND43.3 trillion ($1.9 billion) in revenue in the first nine months of this year, with pre-tax profit of VND1.7 trillion ($76.3 million), a four-fold increase year-on-year and 10.6 per cent higher than the 2016 plan. It also contributed VND3.9 trillion ($174 million) to the State budget, up 24 per cent year-on-year.

The national flag carrier conducted over 106,000 domestic and international flights during the period, or 10.5 per cent more than in the same period last year. It carried 14.9 million passengers, up 16.4 per cent year-on-year, with domestic transport up 13 per cent. Cargo transported totaled 193,000 tons, up 21 per cent.

Consolidated revenue stood at VND52.5 trillion ($2.3 billion), an increase of 6 per cent year-on-year, while consolidated pre-tax profit reached VND2.6 trillion ($116.5 million).

“VNA made great efforts to reach these achievements,” Mr. Le Hoang Dung, a representative from VNA, told VET. Though growth in Vietnam’s aviation market is strong, at 24.4 per cent against the same period last year, VNA has faced difficulties from terrorism in the EU and inadequate aviation infrastructure at home. Hackers attacked the national carrier’s website on July 29, posing a major challenge for its operations.

VNA took possession of four Airbus A350s and eight Boeing 787s in the first year the new aircraft were launched. Its will receive 14 Airbus A350s and 19 Boeing 787s from mid-2015 to early 2019, with all pilots, technicians and trainers to be Vietnamese.

It received four-star certification from Skytrax on July 12 and has been successfully implementing restructuring and equitization efforts.

Japan’s ANA Holdings signed a business and capital partnership agreement with VNA on July 1, becoming its strategic shareholder.

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