Vietnam Airlines (HVN) shows positive growth in Q3
Vietnam Airlines (HVN) shows positive growth in Q3
The national flag carrier Vietnam Airlines has shown a promising recovery in its Q3 business results, primarily driven by its complete restoration of domestic flights, expansion of international routes and strategic network growth, especially during the peak summer season.
The addition of the Boeing 787-10 brings Vietnam Airlines' wide-body fleet to 30 aircraft. — Photo courtesy of Vietnam Airlines |
Over the first nine months of 2024, the airline conducted 106,400 safe flights, transporting 17.2 million passengers – an increase of 8.9 per cent from 2023 – and nearly 226,000 tonnes of cargo, marking a 42 per cent increase.
Notable route expansions include direct flights from Hà Nội and HCM City to Munich, Hà Nội to Phnom Penh, as well as new routes to Manila and reestablished routes to Chengdu, Đà Lạt and Buôn Ma Thuột. Wide-body aircraft are now deployed on flights to India, Singapore and China to meet growing demand.
Despite the recovery, Vietnam Airlines faces persistent challenges, such as negative equity exceeding VNĐ17 trillion (US$680 million) by the end of 2023, alongside external pressures like political instability, currency fluctuations and elevated fuel and maintenance costs.
To tackle these issues, the airline has implemented flexible capacity management and cost optimisation strategies. It has also leveraged international market growth to sustain momentum.
In line with its 2021-2035 recovery and growth plan, Vietnam Airlines intends to further improve equity through asset restructuring, increasing cash flow and a planned share issuance upon regulatory approval, aiming for sustainable development through 2025.
