The Vietnam Airlines Group earned syndicated revenue of VND20.4 trillion (US$895.1 million) in the first quarter of this year, reaching 23.8 per cent of its yearly target.

Of this figure, pre-tax syndicated profit is estimated at VND539 billion, baodautu.vn reported.

The group, including Jetstar Pacific Airlines and Vietnam Air Services Company, undertook 34,265 flights during the period, 91.6 per cent of which were reportedly on time, an increase of 6.2 percentage points over the same period last year.

The volume of passengers and goods rose by 9.3 per cent and 22.9 per cent to touch more than five million passengers and 756 million tonnes of goods, respectively.

The parent, national carrier Vietnam Airlines, made VND16.34 trillion in revenue, up 8.4 per cent, earning pre-tax profit of VND485 billion.

It is reported that the carrier’s business performance was greatly affected by the fuel price hike, which was $65.3 per barrel, 8.8 per cent higher than the plan – resulting in the cost rising more than VND260 billion.

According to statistics of Vietnam Airlines, the aviation market received total 13.46 million passengers in the first quarter of this year, up 17.9 per cent. Although the market has seen continuous growth during the period, the rate of growth has slowed. — VNS