Vietnam Airlines reports record profit in 2019
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National flag carrier Vietnam Airlines estimates its consolidated pre-tax profit for 2019 at an all-time high of VND3.37 trillion ($146 million).
The figure also marks a 10 percent year-on-year increase, Vietnam Airlines said in a press release.
Its consolidated revenue is estimated at VND101.18 trillion ($4.39 billion) this year, up 2.2 percent year-on-year.
In 2019, Vietnam Airlines transported 23 million passengers and nearly 346,000 tons of cargo on 134,000 flights. The airline also began operating 22 new aircraft and 10 flight routes, bringing its fleet to above 100 aircraft.
In 2020, it will focus on retaining its core customer segments and holding share in key markets, the airline said. It expects to invest in 50 additional narrow body aircraft between 2021 and 2015, as well as improving services and digitization of its systems.
Vietnam Airlines is 86.16 percent state-owned, and Japanese air transportation company ANA Holdings has an 8.77 percent stake. The remaining shares are held by state-owned lender Vietcombank, private lender Techcombank, and other domestic individuals.
Questions & Answers
Q.What was the consolidated pre-tax profit for Vietnam Airlines in 2019?
What was the consolidated pre-tax profit for Vietnam Airlines in 2019?
The airline's consolidated pre-tax profit for 2019 was an estimated VND3.37 trillion, which converts to $146 million. This figure represents a 10 percent increase compared to the previous year.
Q.Which entities hold a stake in Vietnam Airlines?
Which entities hold a stake in Vietnam Airlines?
Vietnam Airlines is 86.16 percent state-owned. Japanese air transportation company ANA Holdings holds an 8.77 percent stake, with state-owned lender Vietcombank, private lender Techcombank, and other domestic individuals holding the remaining shares.
Q.How many new aircraft and flight routes did Vietnam Airlines add in 2019?
How many new aircraft and flight routes did Vietnam Airlines add in 2019?
In 2019, Vietnam Airlines added 22 new aircraft to its fleet and began operating 10 new flight routes. This expansion brought the total number of aircraft in its fleet to above 100.
Q.What are Vietnam Airlines' investment plans for new aircraft between 2021 and 2015?
What are Vietnam Airlines' investment plans for new aircraft between 2021 and 2015?
Vietnam Airlines expects to invest in 50 additional narrow-body aircraft between 2021 and 2015. Alongside this, the airline plans to improve its services and further digitise its existing systems.