Vietnam Airlines was awarded the prestigious “CAPA Asia Pacific Airline of the Year” at the 2017 CAPA Asia Pacific Aviation & Corporate Travel Summit held in Singapore on Wednesday. — Photo Vietnam Airlines

Vietnam Airlines was awarded the prestigious “CAPA Asia Pacific Airline of the Year” at the 2017 CAPA Asia Pacific Aviation & Corporate Travel Summit held in Singapore on Wednesday.

This is the first time the national carrier has won the award for its rapid growth, high level of profitability and successful partial privatisation. This award is given to the airline that has been the biggest standout strategically during the year, had the greatest impact on the development of the airline industry and provided a benchmark for others to follow.

The group’s profit reached $114 million in 2016 and exceeded $100 million in the first three quarters of 2017.

Vietnam Airlines completed listing shares on the Hanoi Stock Exchange under stock code HVN in January 2017, becoming one of the first and largest State-owned airlines in Viet Nam to be partially privatised. In addition to the public float, Japan’s All Nippon Airways Holdings acquired 8.77 per cent stake in Vietnam Airlines in 2016 as part of a new strategic partnership. — VNS