Vietnam Airlines holds extraordinary shareholder meeting

Hanoi (VNA) – The national flag carrier Vietnam Airlines convened an extraordinary general meeting on February 20 to discuss reports on selecting strategic investors and amendments to the corporation’s statutes, and elect additional members to the Board of Directors.

The participants agreed on a six-member Board of Directors, and elected a new member - Koji Shibata, a Japanese citizen who is Senior Vice President and Strategic Planning-Asia Pacific Director and responsible for the capital of ANA Holdings Inc in Vietnam Airlines.

The meeting approved the board’s assignment of Ta Manh Hung, who represents the state-owned capital in Vietnam Airlines, to be a member of the board, replacing Nguyen Huy Trang who retired in October 2016.

The selling and leasing back of one Boeing 787-9 and three Airbus A350 planes to be received this year also received approval of the meeting.

One of the important amendments to the company’s statutes adopted at the meeting was the sale of 8.771 percent of its charter capital to Japan’s biggest airline group - ANA Holdings Inc, earning 2.2 trillion VND (99.5 million USD), raising its total charter capital to over 12.2 trillion VND (540 million USD).

Vietnam Airlines put more than 1.2 billion shares on the UPCOM market earlier this year, making the company one of the public firms with the biggest capitalisation on this trading floor.

The airline announced a syndicated profit of 2.5 trillion VND (110 million USD) in 2016, a year-on-year increase of 140 percent, exceeding its annual target by 7 percent.
The company contributed about 4.9 trillion VND (215.6 million USD) to the State budget in the year, an 11 percent rise from the previous year.
It operated roughly 133,000 flights carrying 20.6 million passengers in 2016, up 18.7 percent over 2015. It also transported 264,000 tonnes of goods, exceeding its annual target by 10 percent.-VNA