The national carrier Vietnam Airlines reaped a record high pre-tax profit of over VND2.8 trillion (US$123.2 million) in 2017, beating its annual target by 72% and jumping 8.3% from the previous year, the airline reported on January 10.



The airline and its affiliates, including Vietnamese low-cost carrier Jetstar Pacific and Vietnam Air Service Company, carried around 26.5 million passengers and 343,000 tonnes of cargo on nearly 180,000 flights in 2017.

The national carrier now dominates the domestic market, with a market share of 60%.

The airline's impressive result was attributed to the expansion of its modern fleet, widespread routes, improved services, and the enhancement of bilateral and multilateral cooperation activities.

Earlier in January 2017, the state-owned airline floated over 1.2 billion shares on the Hanoi's Unlisted Public Company Market (UPCoM), becoming one of the largest public companies at that time.

Shares of the airline hit VND42,000 (US$1.85) apiece by the end of 2017, up 60% compared to the opening price of VND28,000 (US$1.23).

Vietnam Airlines also plans to list on the Ho Chi Minh City Stock Exchange (HOSE), the country's largest bourse in the second quarter of 2018 and continue to sell stakes to its shareholders to raise capital and reduce state holdings.

 

                                           Source: NDO

Related Topics


Luong Son district develops industry, handicraft

Currently, Luong Son district counts 905 business establishments operating in industry and handicraft, helping generate jobs and stable incomes for local labourers.

Hoa Binh scores highest points in two indicators of PAR Index 2023

Hoa Binh scored the highest points in two out of the eight indicators of the Public Administrative Reform (PAR) Index ranking in 2023 that the Ministry of Home Affairs announced on April 17.

Hoa Binh’s potential, strengths popularised in US, Canada

A working delegation from Hoa Binh province led by Deputy Secretary of the provincial Party Committee and Chairman of the provincial People’s Committee Bui Van Khanh is attending a programme to popularise Vietnamese products in the US and Canada on April 20-28.

Kim Boi district maintains stable, sustainable economic development in forestry

Anyone found to be encroaching upon the forest, even if it is just one bamboo shoot, will face penalties. This commitment has been unanimously added into the covenant of Bua Cau hamlet, Hung Son commune in Kim Boi district, to protect the forest.

Hoa Binh Power Corporation gears up for hot season

The Hoa Binh Power Corporation (PC Hoa Binh) has applied synchronous measures to gear up for the coming summer season when power consumption demand surge may cause a risk of power supply disruption.