Vietnam Airlines ends year with record pre-tax profit
National flag carrier Vietnam Airlines ended 2017 with pre-tax profit hitting a record high of over VND2.8 trillion (US$123.2 million), an increase of 8.3% from the previous year and 72% higher than the yearly target.
Vietnam Airlines earned about VND88.4 trillion (US$3.9 billion) in revenue last year and its contribution to the State budget almost doubled 2016’s number, the airline announced on January 10.
Vietnam Airlines and its subsidiaries, Jetstar Pacific and Vasco, operated approximately 180,000 flights in 2017, carrying 26.5 million passengers and 343,000 tonnes of cargo, up 6.7% and 19%, respectively, from 2016.
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In 2018, the corporation will continue expanding its fleet with more Airbus A350-900 and A321neo and pursuing its plan to open direct flights to the United States.
Vietnam Airlines stepped into the Unlisted Public Company Market (UPCoM) in January 2017, offering more than 1.2 billion shares, coded HVN, at a debut price of VND28,000 per share. By the end of last year, HVN’s price soared to the peak of VND42,000 per share, up 60%.
The firm plans to sell its shares on Ho Chi Minh Stock Exchange (HOSE) in the second quarter of 2018 and will offer additional shares to existing shareholders in an attempt to increase its charter capital and reduce State ownership.
