Vietnam Airlines Jan-Sept profit highest in five years
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Vietnam Airlines Group posted pretax profits of VND3.29 trillion ($142 million) in Jan-Sept, up 35.7 percent year-on-year.
This is the highest profit it has earned in the last five years. The group, comprising Vietnam Airlines, Jetstar Pacific and Vietnam Air Services Company (VASCO), saw its net revenue rise 3 percent to VND76.7 trillion ($3.3 billion).
The group managed to reduce sales and financial costs down by 30 percent in Q3, resulting in this quarter’s profit surging 2.5 times year-on-year to VND1.13 trillion ($48.88 million).
The group, accounting for 51.7 percent of Vietnam’s aviation market, served 21.4 million passengers in nine months, up 3.2 percent year-on-year.
Vietnam Airlines this year has received two new wide-body Boeing 787-10 aircraft and 10 Airbus A321neo jets. It is set to get one more Boeing 787-10 and four more Airbus A321neos by the end of the year.
The group targets serving 23.4 million passengers this year, earning revenues of VND104.59 trillion ($4.52 billion).
Questions & Answers
Q.What contributed to Vietnam Airlines Group achieving its highest profit in five years?
What contributed to Vietnam Airlines Group achieving its highest profit in five years?
The group's pretax profits rose 35.7 percent year-on-year to VND3.29 trillion. This was partly due to sales and financial costs being reduced by 30 percent in Q3, which helped quarterly profit surge 2.5 times.
Q.How much revenue did Vietnam Airlines Group generate during the Jan-Sept period?
How much revenue did Vietnam Airlines Group generate during the Jan-Sept period?
The group's net revenue increased by 3 percent to VND76.7 trillion ($3.3 billion) in the first nine months of the year. This growth contributed to their overall financial performance for the period.
Q.What are the group's full-year financial and passenger targets?
What are the group's full-year financial and passenger targets?
The group aims to serve 23.4 million passengers by the end of the year. They are also targeting total revenues of VND104.59 trillion ($4.52 billion) for the full operating year.
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