Vietnam Airlines revises down revenue goals for 2019
Vietnam Airlines Group, listed with code HVN, has revised down the projected consolidated revenue for 2019 from over 111.7 trillion VND (4.8 billion USD) as set in the shareholders’ annual general meeting in May to nearly 104.6 trillion VND (4.5 billion USD).
Hanoi (VNA) – VietnamAirlines Group, listed with code HVN, has revised down the projectedconsolidated revenue for 2019 from over 111.7 trillion VND (4.8 billion USD) as set in the shareholders’annual general meeting in May to nearly 104.6 trillion VND (4.5 billion USD).
According to the newly released resolution of theairline’s Board of Directors on business plan adjustment for 2019, theprojected revenue of the parent company Vietnam Airlines was also cut from over 82.5billion VND to more than 78.3 billion VND.
The projected number ofpassengers flying with the carrier was lowered from 24.9 million to 23.4million while the volume of cargo it expects to transport this year was reducedby 16,000 tonnes to 357,000 tonnes.
The State-owned group, which includes Vietnam Airlines, Jetstar Pacific andVASCO, earned nearly 52 trillion VND (2.24 billion USD) in consolidated revenue in the first half of this year,marking a year-on-year increase of 5.5 percent.
The group’s consolidated profit for the firsthalf reached 6.45 trillion VND and pre-tax profit nearly 1.79 trillion VND, down 3.5 percent and 3.7 percent year-on-year,respectively.
Over the course of six months, Vietnam Airlinessafely flew over 13.9 million passengers, a 2-percentincrease from 2018, and over 180,000 tonnes of cargo, up 1.6 percentyear-on-year, on 73,650 flights. Its on-time performance (OTP), averaging at 90percent, remained among the highest globally. Demand-responsive load factor ledto significant fuel saving and higher seat utilisation of 80.3 percent.
Having boosted itscharter capital to more than 14.18 trillion VND, Vietnam Airlines hadits own shares (HVN) officially listed on the HoChi Minh StockExchange (HOSE) on May 7, 2019.
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Illustrative image. (Source: Vietnam Airlines)
