Vietnam Airlines (HVN) earns pre-tax profit of $63.97mil

Vietnam Airlines (HVN) earns pre-tax profit of $63.97mil

Vietnam Airlines Corporation earned a pre-tax profit of nearly VND1.46 trillion (US$63.97 million) in the first quarter of this year, an increase of 6.2 per cent over its target.

Parent company Vietnam Airlines made a profit of VND785 billion, up 30 per cent year on year and 13 per cent over its plan.

Vietnam Airlines said in a report that the air transport market in the first quarter increased more than predicted on both domestic and international flights, with 16.6 million passengers. Of this, Vietnam Airlines carried nearly five million passengers, up by five per cent over the same period last year, and operated nearly 33,000 safe flights, up by 4.3 per cent compared with last year.

“The demand of the market grew, especially on key routes in northeast Asia (Japan and South Korea), in addition to the implementation of market-driven solutions in the context of high fuel prices. This made it possible for Vietnam Airlines to achieve impressive business results in the first quarter of 2018,” said the report.

The corporation earned an estimated consolidated revenue of VND25 trillion, of which the parent company’s revenue is estimated at VND18.6 trillion, increasing by more than 13 per cent year on year.

Vietnam Airlines said in the first quarter, especially during the Tet (Vietnamese Lunar New Year) festival, the quality of four-star services for both passengers and goods remained stable, in which the customer satisfaction rate was 30 per cent, while the punctuality index was maintained at a high level, on an average of over 90 per cent. The carrier continues to be among the world’s leading on-time airlines.

The firm also ranked among the top 20 places to work in Viet Nam, according to the rating of Anphabe career network and Intage Vietnam.

In the second quarter of this year, Vietnam Airlines will continue to focus its resources to ensure safe operations and security. It will receive the 12th A350 wide-body aircraft, organise the meeting of shareholders for 2018 and implement the plan to increase charter capital by offering shares to existing shareholders as well as sell the right to buy shares of State shareholders.

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