Vietnam Airlines nets revenue of over VND2.3 trillion in first nine months

Friday, 2017-10-06 16:36:20
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Vietnam Airlines collects over VND2.3 trillion in revenue during the first nine month this year.
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NDO – National flag carrier Vietnam Airlines (VNA) generated revenue of over VND2.3 trillion (US$101.2 million) in the first nine months this year, according to its latest business operation statistics.

>>> Vietnam Airlines increases flights to serve APEC activities

During the period, VNA carried out almost 108,000 safe flights, with on-time performance (OTP) reaching 90.8%, up 6.7 points over the same period last year, and exceeding 2.8 points in comparison to its set goal, preserving its position as the top airline in Vietnam with the highest OTP.

The airline carried more than 16 million visitors during the Jan-Sept period, up 5% annually. On the routes between Hanoi, Ho Chi Minh City and Da Nang, the total transport volume reached 6.8 million passengers; particularly in the third quarter alone, its market share increased up to 72%.

According to a representative from the VNA, as of September 2017, the rate of flyers doing their own online check-in via web/mobile or check-in kiosks at Tan Son Nhat, Noi Bai and Da Nang airports were at high level (Tan Son Nhat 42%, Noi Bai 38%, and Da Nang 33%), increasing sharply over the same period last year and thus contributing to improving the airlines’ service quality and OPT, as well as reducing pressure on the manpower and infrastructure of airports.

The airlines’ aggregate revenue during the nine month period was over VND65 trillion, up 20% over the same period last year, with profit before tax (PBT) reaching over VND2.3 trillion, up by more than 40% compared to the whole year plan. In Q3 alone, VNA’s PBT reached nearly VND1.3 trillion, up 57% over the same period last year. It contributed to the State budget with more than VND4.3 trillion, up 7%.

Particularly, thanks to the conversion from the use of loans to loan sales and subleases, the airline has been active in balancing their financial situation and currently does not have to use the governmental loan guarantee for investment in developing its fleet.

In the fourth quarter of 2017, VNA will implement a plan to increase its charter capital in order to offer shares to its existing shareholders, while facilitating the completion of the fleet development plan for 2020-2025, with a vision to 2030, and giving priority to serving the travel of delegates and officials attending the APEC 2017 High Level Week in Da Nang this November.