Vietnam Airlines announces Branded Fares Matrix

Hanoi (VNA) – The national flag carrier Vietnam Airlines on July 2 said it will implement the Branded Fares Matrix (BFM) as part of its efforts to catch up with the modern global airline sector.

The BFM is the bundling of rights and interests of customers such as ticket return and change, service upgrade, flight change, assigned seats and priority check-in and screening, among others.

The bundling services will make it easier for customers to book tickets most suitable for their needs and budget.

Under the model, there will be Business Class, Premium Economy Class and Economy Class, with Flex, Classic and Lite fares. 

Besides, passengers of Flex and Classic fares of the Business Class will earn from 150 percent to 200 percent of the miles they fly as award miles.

Passengers of Flex fares of the Business Class and the Economy Class will receive priority check-in, and those of all Flex fares of international flights can return and change tickets.

A representative of Vietnam Airlines said from July 5, the carrier will levy additional administration charges on Classic and Lite fares of the Economy Class, while removing additional charges of online booking services.

Additional administration charges are part of the carrier’s efforts to improve the quality of its passenger administration.

An administration fee of 80,000 VND per flight will be applied to domestic routes of less than 850km, and 150,000 VND to domestic routes of more than 850km. For international routes, the fee is 7 USD per flight.

Business, Premium Economy and Flex Economy tickets will be exempt from administration fees.

Vietnam Airlines aims to serve more than 24.3 million passengers and earn consolidated net profit of more than 97 trillion VND (4.27 billion USD) in 2018. 
The airline also targets pre-tax profit of more than 2.4 trillion VND (105.4 million USD) this year, while that of the parent company will be at 1.95 trillion VND (85.6 million USD).
In 2017, Vietnam Airlines conducted 140,000 flights carrying 22 million passengers. The corporation earned a record pre-tax profit of more than 3.15 trillion VND (135.1 million USD), surpassing the yearly target by 92.6 percent and posting a year-on-year increase of 21.3 percent.
 
The parent company raked in more than 64.9 trillion VND in revenue and 1.9 trillion VND in pre-tax profit, exceeding the target by 52 percent and registering a year-on-year rise of 11.7 percent.

Vietnam Airlines maintained its four-star rating by Skytrax for two consecutive years.
 
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.-VNA