Vietnam Airlines earns 142 million USD in pre-tax profit

The Vietnam Airlines Group, listed as HVN, earned consolidated pre-tax profit of over 3.29 trillion VND (nearly 142 million USD) in the first nine months of this year, its financial report showed on October 31.

vietnam airlines earns 142 million usd in pre-tax profit hinh 0
The Vietnam Airlines Group posts over 3.29 trillion VND (nearly 142 million USD) in consolidated pre-tax profit in the first nine months of 2019

The group’s consolidated revenue was more than 76.7 trillion VND (3.3 billion USD), reaching 98 percent of the yearly target.

The report showed that the group’s operating results recorded good growth in the first nine months of this year.

The Vietnam Airlines Group, including Vietnam Airlines, Jetstar Pacific and Vietnam Air Services (VASCO), transported more than 21.4 million passengers, an increase of 3.2 percent year-on-year and more than 256,000 tonnes of goods.

The group continues to assert its leading position in the domestic market with 51.7 percent market share of passenger transport. It still maintained average on-time performance (OTP) at approximately 90 percent during the period.

Vietnam Airlines said that these positive financial and operating results come from efforts to promote the development of its aircraft fleet, routes and services.

The group received two more Boeing 787-10 and ten A321 NEO aircraft in the period, while opening many new domestic and international routes including HCM City-Chu Lai, a series of routes between Da Nang and Thanh Hoa, Vinh, Da Lat, Phu Quoc, Can Tho, Busan (the Republic of Korea) and Taiwan (China).

The group has also strengthened cooperation with international carriers such as Delta Airlines and China Airlines to deploy connecting flights to the US, as a premise to develop products connecting Vietnam and the US.

Last month, Vietnam Airlines officially launched Vietnam-Singapore Technologies Engineering Aerospace (VSTEA) that aims to enhance aircraft repair and maintenance capacity, gradually mastering modern technology and increasing operational efficiency.

In the last months of this year, Vietnam Airlines said it will focus on periodic maintenance of aircraft, enhancing training to ensure human resources for the year-end peak period.

It has planned to receive more new aircraft including four A321 NEO and one Boeing 787-10 and open new routes to Bali, Phuket, Macau and re-operate the Da Nang-Bangkok route.

VNA