Vietnam Airlines’ pre-tax profit surges 87 percent in six months

Hanoi (VNA) – Vietnam Airlines recorded a dramatic year-on-year rise of 87 percent in its pre-tax profit in the first half of 2018, approximating 1.92 trillion VND (82.8 million USD) and double its target.

The national flag carrier said on August 15 that the domestic air transport market tended to grow slowly in the period. Rising fuel prices since the year’s beginning, at about 82 USD per barrel on average, also caused difficulties.

The airline obtained positive business outcomes thanks to its flexibility, it explained. 

In the six months, Vietnam Airlines operated more than 72,800 flights with on-time performance index reaching 90 percent. It served 13.7 million passengers and transported nearly 167,000 tonnes of cargo, up 4 percent and 8.5 percent from a year earlier, respectively.

Consolidated revenue was close to 49.8 trillion VND (1.15 billion USD).

The firm said its service quality was ensured in the six months, adding that it was certified as a four-star airline by UK-based airline review and rating organisation Skytrax for the third straight year. It was also listed as one of the top airlines in Asia in 2018 by tourism website TripAdvisor.

In the last half of this year, the aviation market is forecast to grow slowly and there are no signs fuel prices will fall. Therefore, the corporation will continue fuel saving and capacity improving measures.

It will also carry out procedures for listing the stock HVN on the Ho Chi Minh Stock Exchange in the coming months. The listing aims to ensure funding for its investment projects and help reduce State ownership at the firm, Vietnam Airlines added. –VNA