Vietnam Airlines reports record profit in 2019

By Hung Le December 30, 2019 | 07:00 pm PT

A Vietnam Airlines aircraft taxiing at HCMC's Tan Son Nhat Airport. Photo by Shutterstock/anvu.

National flag carrier Vietnam Airlines estimates its consolidated pre-tax profit for 2019 at an all-time high of VND3.37 trillion ($146 million).

The figure also marks a 10 percent year-on-year increase, Vietnam Airlines said in a press release.

Its consolidated revenue is estimated at VND101.18 trillion ($4.39 billion) this year, up 2.2 percent year-on-year.

In 2019, Vietnam Airlines transported 23 million passengers and nearly 346,000 tons of cargo on 134,000 flights. The airline also began operating 22 new aircraft and 10 flight routes, bringing its fleet to above 100 aircraft.

In 2020, it will focus on retaining its core customer segments and holding share in key markets, the airline said. It expects to invest in 50 additional narrow body aircraft between 2021 and 2015, as well as improving services and digitization of its systems.

Vietnam Airlines is 86.16 percent state-owned, and Japanese air transportation company ANA Holdings has an 8.77 percent stake. The remaining shares are held by state-owned lender Vietcombank, private lender Techcombank, and other domestic individuals.