Vietnam Airlines reports profit in H1

Vietnam Airlines Corporation reports after-tax profit of US$173.19 million in H1. - VNA/VNS Photo

HÀ NỘI – Vietnam Airlines (VNA) reported after-tax profit of VNĐ4.44 trillion (US$173.19 million) in Quarter 1 as it is strengthening its international flights and restructuring.

Revenue from international transport during the period topped VNĐ13.8 trillion, a year-on-year surge of 30.4%, and accounting for 65% of the carrier’s total earning, three folds higher than the lowest ever figure in Q1 of 2021.

The airline also attributed the robust business to the peak travel season as well as its improved service quality and digital transformation that helped attract high-spending passengers.

It provided services for more than 5.74 million passengers, rising 12.7% against the same time last year. The occupancy rates were 86% for domestic flights and 80% for international ones.

A Vietnam Airlines representative said drastic measures were carried out to improve the fleet’s capacity and cut costs.

Under its restructuring plan during the 2021-2025, the airline will roll out solutions to enhancing its adaptability, restructure its assets and investment portfolios to increase income, while preparing for a share issuance to raise its return on equity after getting approval from relevant authorities.

According to statistics from the Civil Aviation Authority of Vietnam, a total of 66,605 flights were operated by domestic airlines during the first three months of the year, with 28,287 by the national flag carrier Vietnam Airlines alone.

The airline offered 575,000 seats on some 2,900 flights during the Reunification Day and International Labour Day holiday to meet passengers’ travel demand.