Vietnam Airlines announces profit increase in Q1

Monday, Apr 22, 2019 08:00

Passengers check in for Vietnam Airline flights.— Photo

Vietnam Airlines earned revenue of nearly VND26 trillion (US$1.2 billion) in the first quarter of this year, up 4.3 per cent year on year.

Its pre-tax profit was estimated at VND1.5 trillion, or 45 per cent of the yearly goal.

The firm achieved a total revenue of more than VND19.3 billion, up 5.5 per cent over the same period of last year and a pre-tax profit of more than VND1.2 billion, up 36.6 per cent.

By the end of the first quarter, its financial indicators had improved, including reduction of debt equity ratio to 2.41 per cent from 2.58 per cent in the beginning of this year, due to balance of cash flow and effective payment plan.

During the first quarter, Vietnam Airlines operated 33,500 flights, up 2 per cent year on year, with its rate of On Time Performance (OTP) reaching 90 per cent.

The airline transported 5.4 million passengers - up 2.5 per cent compared to the same period last year.

In the strategy of expanding domestic flight network, Vietnam Airlines has run new routes including HCM City-Chu Lai, Da Nang-Can Tho and Da Nang-Vinh.

The airline's fleet continued to expand in the first quarter of 2019, with two Airbus A321neo narrow-body planes and an Airbus A350-900 wide-body aircraft added.

In the second quarter, Vietnam Airlines will continue to complete major plans including operation of 10 Airbus A321Neo aircraft and preparation to receive the first Boeing 787-10 aircraft.

It will also list HVN shares on the Ho Chi Minh Stock Exchange (HOSE). — VNS

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