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VietNamNews

Vietnam Airlines Corporation earns VNĐ854 billion pre-tax profit

Update: May, 10/2017 - 17:40
A corner of Vietnam Airlines Engineering Company (VAECO), which received the European Aviation Safety Agency’s EASA-145 Maintenance Organisation Approval Certificate. — Photo apave.com.vn
Viet Nam News

HÀ NỘI — Vietnam Airlines Corporation estimated reaching a syndicated revenue of VNĐ21.2 trillion (US$930.23 million) in Q1 this year, a year-on-year increase of nearly 12.5 per cent, making a pre-tax profit of VNĐ854 billion.

Of this amount, the parent company, Vietnam Airlines, earned over VNĐ16.2 trillion in revenue, 5 per cent higher than the same period last year, and a pre-tax profit of VNĐ563 billion.

According to a press release on Wednesday, Vietnam Airlines said it had still maintained growth speed on output, quality and revenue, even though the aviation market was facing many challenges.

The corporation said the average fuel price during the period rose by $13.64 to $65.19 per barrel. It had to pay more than VNĐ1 trillion extra for fuel compared with the same period last year.

During the period, the corporation carried out nearly 34,500 flights, exceeding the target by 1.3 per cent. In particular, its OTP (on-time performance) index rose by 6.2 points, reaching 91.6 per cent of entire flights.

The corporation still maintained its market share of 61 per cent of the domestic aviation market. In addition, its service quality continued to be recognised with prizes for its subsidiaries, including the best service quality in Southeast Asia in 2016, awarded by Korean Air for Vietnam Airport Ground Services Co Ltd – Tân Sơn Nhất and the best catering service in 2016 by Japan Airlines for Nội Bài Catering Service JSC.

In particular, Vietnam Airlines Engineering Company (VAECO) received the European Aviation Safety Agency’s EASA-145 Maintenance Organisation Approval Certificate. The certificate will allow VAECO to supply its maintenance services to aircraft with registered operations in Europe. 

Having recently received its 11th Boeing 787 aircraft, Vietnam Airlines now boasts the largest fleet of Boeing 787-9s in Southeast Asia.

From now until the end of the year, the carrier will continue focusing on safety, security and quality service, especially during rush hour periods, ensuring optimum working capacity and four-star service quality. — VNS

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