Vietnam Airlines Jan-Sept profit highest in five years

By Dat Nguyen   November 1, 2019 | 06:35 pm PT
Vietnam Airlines Jan-Sept profit highest in five years
A Vietnam Airlines aircraft prepares for landing in Prague, Czech. Photo by Shutterstock/Rebius.
Vietnam Airlines Group posted pretax profits of VND3.29 trillion ($142 million) in Jan-Sept, up 35.7 percent year-on-year.

This is the highest profit it has earned in the last five years. The group, comprising Vietnam Airlines, Jetstar Pacific and Vietnam Air Services Company (VASCO), saw its net revenue rise 3 percent to VND76.7 trillion ($3.3 billion).

The group managed to reduce sales and financial costs down by 30 percent in Q3, resulting in this quarter’s profit surging 2.5 times year-on-year to VND1.13 trillion ($48.88 million).

The group, accounting for 51.7 percent of Vietnam’s aviation market, served 21.4 million passengers in nine months, up 3.2 percent year-on-year.

Vietnam Airlines this year has received two new wide-body Boeing 787-10 aircraft and 10 Airbus A321neo jets. It is set to get one more Boeing 787-10 and four more Airbus A321neos by the end of the year.

The group targets serving 23.4 million passengers this year, earning revenues of VND104.59 trillion ($4.52 billion).

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