Vietnam Airlines Group marks milestone by earning $121 Million profit in 2018

- A Monitor Desk Report 07 Jan, 2019 | 2284 Views|-+
Dhaka: Vietnam Airlines Group has made history as its profit reached VND 2.8 trillion ($121 Million USD) in 2018.

For the first time, Vietnam Airlines and its member airlines (including Jetstar Pacific and VASCO) have surpassed the VND 100 trillion bar in total consolidated revenue, producing approximately VND 102 trillion.

Pre-tax profit reached VND 2.8 trillion, exceeding the planned figure of 15 percent in which Vietnam Airlines bagged VND 73.5 trillion revenue and more than VND 2 trillion pre-tax profit.

The airline contributed roughly VND 6.6 trillion to the State budget. The financial fortune is a result of the Operating Profit Margin of 4.38 percent and Debt to Equity ratio of below 3.

Additionally, Vietnam Airlines has carried over 22 million passengers on 142,000 flights and 350,000 tons of cargo in 2018. It scored OTP at 90 percent on average, making it one of the world’s leading airlines in on-time performance (OTP).

The airline also made notable progress in updating the fleet and investing in technology with two wide-bodies Airbus A350 and three narrow-bodies A321Neo.

For providing the best flying experience using one of the youngest and most modern fleets in the region, Skytrax has been recognising Vietnam Airlines as a 4-star airline for three consecutive years.

Duong Tri Thanh, President and CEO, Vietnam Airlines, said, “Vietnam Airlines’ strong earning performance capped another year of extraordinary achievement, including surpassing the VND 2 trillion mark in profit. We made significant progress on several key initiatives in 2018 including improved human resources management, enhanced product portfolio and on-time-performance index. 2018’s success offered an unparalleled opportunity for Vietnam Airlines to unlock further growth and bolster the service quality.”

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