Vietnam Airlines targets over 1.6 bln USD in revenue this year
Facing the complicated COVID-19 situation, Vietnam Airlines said it has built a feasible business plan with a view to earning 37.364 trillion VND (over 1.6 billion USD) in consolidated revenue this year, equivalent to 88.4 percent of the 2020 figure.
Hanoi (VNA) – Facing the complicatedCOVID-19 situation, Vietnam Airlines said it has built a feasible business planwith a view to earning 37.364 trillion VND (over 1.6 billion USD) inconsolidated revenue this year, equivalent to 88.4 percent of the 2020 figure.
To that end, the national flag carrier willfocus on maintaining flight safety, ensuring safety from COVID-19, conductingcomprehensive restructuring, and boosting digital transformation, GeneralDirector Le Hong Ha told the annual shareholders’ meeting this week.
It will push ahead with measures to raiserevenue and cut down costs, restructure its investment in non-core sectors,streamline the apparatus, and improve service quality. By taking such actions,it expects to save more than 6.8 trillion VND in 2021.
Vietnam Airlines is also planning to sell sixold ATR-72s and replace them with jet aircraft so as to improve itscompetitiveness in niche markets or the airports unable to handle such planesas Airbus A320s and A321s, he noted.
Despite huge impacts of the COVID-19 pandemic,the firm transported 14.13 million passengers and 195,300 tonnes of cargo in2020, approximating the set targets. Its on-time performance stood at 90percent.
Last year’s revenue and profit were better thanforecast. The consolidated revenue and the parent company’s revenue wererespectively posted at 42.276 trillion VND and 33.266 trillion VND, 4.2 percentand 2.2 percent higher than expected.
Meanwhile, the consolidated losses and theparent firm’s losses were lower than forecast, equivalent to 72.2 percent and60.4 percent of the planned figures, the carrier reported.
Chairman Dang Ngoc Hoa said despite the pandemic's impacts, Vietnam Airlines has tapped into every opportunity to raise revenuesuch as by increasing flights to transport cargo, repatriate overseasVietnamese, and carry foreign experts to the country, and opening over 20domestic routes to seize chances created by the domestic market’s quickrecovery.
Its efforts, together with assistance from theGovernment and relevant agencies, have helped Vietnam Airlines reduce losses bynearly 5.8 trillion VND last year, Hoa added./.
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Illustrative photo (Source: VNA) 
