Another year of growth for Vietnam Airlines

Vietnam Airlines Group has announced an historic profit of VND 2.8 trillion for 2018 after another year of growth and innovation due to robust demand for air travel in the region.

The figures see show the airline exceeded VND 100 trillion in total consolidated revenue for the first time, generating approximately VND 102 trillion.

Pre-tax profit reached VND 2.8 trillion, exceeding the planned figure of 15 per cent, with Vietnam Airlines achieving VND 73.5 trillion revenue and more than VND 2 trillion pre-tax profit. Its contribution to the State budget is roughly VND 6.6 trillion. The financial fortunes are attributed to the Operating Profit Margin of 4.38 per cent and Debt to Equity ratio of below three, lower than that of the beginning of 2018.

In addition to the positive financial results, Vietnam Airlines carried more than 22 million passengers on 142,000 flights and 350,000 tons of cargo in 2018. The carrier is among the world’s leading airlines in on-time performance, averaging an OTP score of 90 per cent.

Fleet modernisation

The airline made significant progress in modernising its fleet and investing in technology with the delivery of two wide-bodied Airbus A350s and three narrow-bodied A321Neos. As a four-star airline recognised by Skytrax for three consecutive years, Vietnam Airlines takes great pride in providing the best flying experience using one of the youngest and most modern fleets in the region.

Duong Tri Thanh, the airline’s president and CEO, said: “Vietnam Airlines’ strong earnings performance capped another year of extraordinary achievement, including surpassing the VND 2 trillion mark in profit.

“We made significant progress on several key initiatives in 2018, including improved human resources management, enhanced product portfolio and on-time-performance index. 2018’s success offered an unparalleled opportunity for Vietnam Airlines to unlock further growth and bolster the service quality.”