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Vietnam Airlines honored as a Top 10 sustainable business

Released at: 14:01, 16/04/2018 What's on

Vietnam Airlines honored as a Top 10 sustainable business

Photo: Vietnam Airlines

National flag carrier receives Vietnamese Excellent Brand Award from VET and Vietnam Trade Promotion Agency.

by Ngoc Lan

Vietnam Airlines received a Vietnamese Excellent Brand Award on April 14 from Vietnam Economic Times and the Vietnam Trade Promotion Agency as a Top 10 sustainable business.

The annual awards recognize domestic firms with outstanding business performance and significant contributions to social development.

Criteria included business performance, trademark protection, product and service quality, management capacity, human resources, corporate responsibility, and environmental protection.

Vietnam Airlines has regularly received prestigious awards from reputable international and domestic organizations.

On April 9, TripAdvisor, the world’s leading travel website, announced the winners of its Traveler’ Choice Major Airlines - Asia 2018 awards for favorite airlines around the globe, with the national flag carrier finding a place for the first time, joining Singapore Airlines, ANA, Korean Air, Garuda Indonesia, and Cathay Pacific.

Vietnam Airlines has enjoyed average annual passenger growth of 11 per cent over the past two decades, with average annual revenue increasing 15.62 per cent. It has also responded positively to humanitarian programs such as Operation Smile and the building of houses for people in flood-prone areas.

Total revenue was estimated at VND88.4 trillion ($3.9 billion) in 2017, surpassing the annual plan by 72 per cent and 8.3 per cent higher than in 2016, with pre-tax profit at a record VND2.8 trillion ($124.4 million).

Vietnam Airlines will be listed on the Ho Chi Minh Stock Exchange (HoSE) in the second quarter and will implement its plan to issue additional shares to existing shareholders to increase charter capital and reduce State ownership.

2017 also marked Vietnam Airlines’ latest impressive move in the development of a new, modern fleet, with the addition of four Airbus A350-900 XWB and one Boeing 787-9 Dreamliner aircraft, bringing the respective totals to ten and eleven.

It also made significant strides forward with the long-term lease of six A321neo aircraft from the Aviation Capital Group (ACG) and a contract for the purchase and maintenance of A321neo aircraft engines with US aerospace manufacturer Pratt &Whitney worth $1.5 billion, signed during US President Donald Trump’s visit to Vietnam last November.

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