Vietnam Airlines among top 10 best firms in 2018

 

Hanoi (VNA) – Vietnam Airlines Corporation (Vietnam Airlines) has been named one of 10 best companies on the Top 50 Vietnam: The Best in 2018 list for the third consecutive year.

This was revealed at the recent announcement of the Vietnam Top 500 largest enterprises (VNR500) in 2018.

The firm also ranked first among the year’s top 10 most prestigious transport and logistics companies.

Last year, the total consolidated revenue of the corporation was estimated at 102 trillion VND, marking a record pre-tax consolidated profit of nearly 2.8 trillion VND, up 15 percent compared with the plan set for the year.

Vietnam Airline’s financial indicators had also improved. Its operating profit margin reached 4.38 percent, while its debt/equity (D/E) ratio fell below three, lower than the ratio at the beginning of 2018.

The firm safely conducted nearly 142,000 flights carrying 22 million passengers and nearly 350,000 tonnes of cargo in 2018. Its on-time performance (OTP) rate was 90 percent, higher than that set for the year.

Notably, Vietnam Airlines also paid attention to social activities, including offering support for disadvantaged people and flood victims, and presenting air tickets to excellent students.

The ranking has affirmed Vietnam Airlines’ key role in the country’s aviation industry, as well as its efforts to become an internationally recognised airline for the region.

To feature in the list of Top 50, an enterprise has to be named for three consecutive years in the VNR500 ranking in terms of revenue. Criteria such as good capital use, efficiency, stable profit growth potential, and good social and community responsibility are also used for referencing and evaluating.

VNR500 is based on the Fortune 500 model, which lists the top 500 US companies by revenue of the previous year. In Vietnam, the ranking of the 500 largest enterprises is based on the results of independent research and evaluation as per international standards of the Vietnam Report Company, and has been announced annually since 2007.

The VNR500 rankings give people an idea of Vietnamese businesses and let the local business community recognise its position in the context of global integration, business strategy, and corporate governance. Based on this reality, enterprises can set up plans to reach out to large businesses in the region and around the world. –VNA