Vietnam Airlines posts $82.4 million pre-tax profit in H1 2018
For the last six months of 2018, Vietnam Airlines has also implemented several solutions to save fuel and improve technical capacity.
National flag carrier Vietnam Airlines has said its consolidated pre-tax profit rose of 87% in the first half of 2018 compared to the same period last year, reaching VND1.92 trillion (US$82.4 million).
Vietnam Airlines’ total consolidated revenue was estimated at VND49.8 trillion (US$2.1 billion) while the parent company's revenue was estimated at nearly VND36.3 trillion (US$1.6 billion).
The parent company's pre-tax profit reached VND1.39 trillion (US$57.8 million), more than double the planned figure.
In the first half of 2018, Vietnam Airlines operated 72,800 flights with a high on-time performance of 90%; and transported 13.7 million passengers, an increase of 4% compared to the same period last year.
Cargo transported reached 167,000 tons, up 8.5% over the same period, and close to 100% of the planned targets for both the international and domestic markets.
Restructuring human resources is used as the approach to reduce work force and improve productivity. As of June 30, 2018, number of employees comprise 6,685 people – 3% fewer than the planned target and 2% fewer than the same period in 2017.
In the last six months of 2018, Vietnam Airlines will also increase charter capital by issuing more shares to existing shareholders. Its HVN shares will be listed on the Ho Chi Minh City Stock Exchange (HOSE). These are effective actions to proactively guarantee credit capital for Vietnam Airlines investment projects well as to reduce state ownership during 2019 - 2020 period.
Earlier, Vietnam Airlines has been certified as a 4-star airline by the international air transport rating organisation Skytrax for the third consecutive year. With this certification, Vietnam Airlines was ranked alongside some of the world’s most reputable airlines, including Air France, Emirates, Japan Airlines, Korean Air, and British Airway.
Vietnam Airlines achieves $82.4 million pre-tax profit in the first half of 2018. Photo: Vietnam Airlines
|
The parent company's pre-tax profit reached VND1.39 trillion (US$57.8 million), more than double the planned figure.
In the first half of 2018, Vietnam Airlines operated 72,800 flights with a high on-time performance of 90%; and transported 13.7 million passengers, an increase of 4% compared to the same period last year.
Cargo transported reached 167,000 tons, up 8.5% over the same period, and close to 100% of the planned targets for both the international and domestic markets.
Restructuring human resources is used as the approach to reduce work force and improve productivity. As of June 30, 2018, number of employees comprise 6,685 people – 3% fewer than the planned target and 2% fewer than the same period in 2017.
In the last six months of 2018, Vietnam Airlines will also increase charter capital by issuing more shares to existing shareholders. Its HVN shares will be listed on the Ho Chi Minh City Stock Exchange (HOSE). These are effective actions to proactively guarantee credit capital for Vietnam Airlines investment projects well as to reduce state ownership during 2019 - 2020 period.
Earlier, Vietnam Airlines has been certified as a 4-star airline by the international air transport rating organisation Skytrax for the third consecutive year. With this certification, Vietnam Airlines was ranked alongside some of the world’s most reputable airlines, including Air France, Emirates, Japan Airlines, Korean Air, and British Airway.
18:45, 2024/11/28
Vietnam, Hesse (Germany) promote high-tech cooperation
Bilateral trade between Vietnam and Hesse has reached around EUR1 billion (US$1.05 billion) annually, accounting for one-tenth of total trade between Vietnam and Germany.
15:34, 2024/11/27
Big discounts on offer at Hanoi's November Promotion Festival
The event is part of the Hanoi Concentrated Promotion Program 2024, held in May, July, and November, attracting up to 2,000 businesses.
17:23, 2024/11/26
Hanoi unveils 150 most popular Vietnamese products and services for 2024
The "Most Popular Vietnamese Products" voting program is part of the city's broader efforts to encourage the consumption of local goods.
16:50, 2024/11/23
Hanoi hosts the Vietnam Regional Specialties Fair 2024
This year's fair will contribute to the promotion of trade and the expansion of typical regional products, especially agricultural and food products that meet export standards.
14:06, 2024/11/20
Hanoi strengthens export competitiveness and trade protection measures
Hanoi will work with the Ministry of Industry and Trade to ensure that businesses and manufacturers are ready for new challenges.
10:49, 2024/11/16
US reiterates Vietnam is not manipulating currency
The US Treasury Department’s positive evaluation underscores Vietnam’s progress in balancing its economic and monetary policies while fostering strong bilateral relations with the US.
- Vietnam, Brazil: Building bridges through shared history and new partnerships
- Hanoi to attract tourists by showcasing local specialties at wholesale markets
- National E-commerce Week, Vietnam Online Shopping Day 2024 set to kick off
- Vietnamese goods in rising demand among Hanoi residents
- Hanoi unveils 2024 rural industrial plans
- Hanoi advances supporting industries for hi-tech services