Vietnam Airlines expects to serve more than 24.3 million passengers in 2018
Updated at Friday, 11 May 2018, 16:37
The Hanoitimes - National flag carrier Vietnam Airlines expects to serve more than 24.3 million passengers and earn consolidated net profit of over VND97 trillion (US$4.27 billion) in 2018.
This was announced during the annual shareholders’ meeting of Vietnam Airlines held in Hanoi on May 10. It was the third meeting since the company completed equitisation in 2015, to discuss a series of important issues including the modification of the internal management regulations.
Vietnam Airlines also targets pre-tax profit of more than VND2.4 trillion (US$105.4 million) in 2018, while that of the parent company will be at VND1.95 trillion (US$85.6 million).
The annual shareholders’ meeting of Vietnam Airlines.
At the meeting, the shareholders discussed a report on business performance in 2017 and main targets of the business plan in 2018, along with auditing financial statements in 2017 and plans for the distribution of profits and dividends. They also approved a plan to sell the carrier’s shares on the Ho Chi Minh Stock Exchange (HoSE) this year.
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 (US$1.3 billion), surpassing the yearly target by 92.6% and posting a year-on-year increase of 21.3%.
Vietnam Airlines maintained its four-star rating by Skytrax for two consecutive years. The on-time performance index (OTP) reached 90.2% for departures and 83.2% for arrivals, putting Vietnam Airlines among the top 10 airlines with the best OTP in the globe.
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 capitalization was valued at over VND60.6 trillion (US$2.65 billion) on March 30, 2019 (VND49,400 per share), up 38% compared to the time its share debuted on the Unlisted Public Company Market (Upcom) at VND39,200 per piece.
In the first quarter 2018, Vietnam Airlines’ consolidated profit hit nearly VND25.5 trillion (US$1.12 billion), while the parent company raked in about VND18.6 trillion (US$816.82 million), up 13% year-on-year. Pre-tax profit of the corporation reached VND1.46 billion VND (US$64.12 million) in the period, a rise of 6.2% compared to its yearly target.
Currently, Vietnam Airlines has a total chartered capital of over VND12.27 trillion (US$535.5 million). The State is holding 86.16 percent of the airlines’ chartered capital, Japan’s ANA Holdings Inc 8.77%, and the remaining belong to other shareholders.