Vietnam Airlines ends year with record pre-tax profit
National flag carrier Vietnam Airlines ended 2017 with pre-tax profit hitting a record high of over 2.8 trillion VND (123.2 million USD), an increase of 8.3 percent from the previous year and 72 percent higher than the yearly target.
An aircraft of the national flag carrier Vietnam Airlines. (Photo: VNA)
Hanoi (VNA) – Nationalflag carrier Vietnam Airlines ended 2017 with pre-tax profit hitting a recordhigh of over 2.8 trillion VND (123.2 million USD), an increase of 8.3 percentfrom the previous year and 72 percent higher than the yearly target.
Vietnam Airlines earned about 88.4trillion VND (3.9 billion USD) in revenue last year and its contribution to the Statebudget almost doubled 2016’s number, the airline announced on January 10.
Vietnam Airlines and itssubsidiaries, Jetstar Pacific and Vasco, operated approximately 180,000 flightsin 2017, carrying 26.5 million passengers and 343,000 tonnes of cargo, up 6.7percent and 19 percent, respectively, from 2016.
The company controlled roughly 60percent of the domestic market share and about 32.3 percent of the market shareof international passengers flying to and from Vietnam.
In 2018, the corporation willcontinue expanding its fleet with more Airbus A350-900 and A321neo and pursuingits plan to open direct flights to the United States.
Vietnam Airlines stepped into theUnlisted Public Company Market (UPCoM) in January 2017, offering more than 1.2billion shares, coded HVN, at a debut price of 28,000 VND per share. By the endof last year, HVN’s price soared to the peak of 42,000 VND per share, up 60percent.
The firm plans to sell its shares on HoChi Minh Stock Exchange (HOSE) in the second quarter of 2018 and will offeradditional shares to existing shareholders in an attempt to increase itscharter capital and reduce State ownership.-VNA
The Vietnam Airlines Corporation has announced that it will issue over 191 million shares for existing shareholders at 10,000 VND each to increase its chartered capital.
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An aircraft of the national flag carrier Vietnam Airlines. (Photo: VNA)
