Vietnam Airlines to hold annual shareholder meeting

Thursday, May 03, 2018 09:01

Vietnam Airlines’ airplane lands at Noi Bai International Airport. — VNS Photo Truong Vi

Shareholders of Vietnam Airlines will gather at the annual general meeting in Ha Noi on May 10, the third one since the company completed equitisation in 2015, to discuss a series of important issues including the modification of the internal management regulations.

The Board of Directors will deliver a report on business performance in 2017 and main targets for the coming year 2018, along with auditing financial statements in 2017 and plans for the distribution of profits and dividends.

In 2017, Vietnam Airlines conducted 140,000 flights carrying 22 million passengers. Its total revenue reached more than VND84.9 trillion (US$3.7 billion).

The corporation earned a record pre-tax profit of more than VND3.15 trillion, surpassing the yearly target by 92.6 per cent and posting a year-on-year increase of 21.3 per cent.

The parent company raked in more than VND64.9 trillion in revenue and VND1.9 trillion in pre-tax profit, exceeding targets by 52 per cent and registering a year-on-year rise of 11.7 per cent.

Vietnam Airlines maintained its four-star rating by Skytrax for two consecutive years.

The on-time performance index (OTP) reached 90.2 per cent for departures and 83.2 per cent for arrivals, putting Vietnam Airlines among the top 10 airlines with the best OTP in the world.

In 2017, Vietnam Airlines continued receiving national and international recognition with a number of prestigious awards, most notably being listed on the 10 strongest brands of Brand Finance.

Vietnam Airlines’ market capitalisation was valued at more than VND60.6 trillion on March 30, 2018 (VND49,400 per share), up 38 percent compared to the time its share debuted on the Unlisted Public Company Market (Upcom) at VND39,200 per piece.

Currently, Vietnam Airlines has a total chartered capital of VND12.27 trillion. The State is holding 86.16 per cent of the airlines’ chartered capital, Japan’s ANA Holdings Inc 8.77 percent, and the remaining belong to other shareholders.

In the first quarter of this year, Vietnam Airlines Corporation earned a pre-tax profit of nearly VND1.46 trillion, marking an increase of 6.2 per cent over its target. Parent company Vietnam Airlines made a profit of VND785 billion, up 30 per cent year on year and 13 per cent over its plan.

The carrier will continue to focus its resources to ensure safe operations and security in the second quarter of this year. It will also receive the 12th A350 wide-body aircraft and implement the plan to increase charter capital by offering shares to existing shareholders as well as sell the right to buy shares of State shareholders. — VNS

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