General Director of Vietnam Airlines Le Hong Ha speaks at the 2023 annual general meeting of shareholders. (Photo courtesy of the corporation)
Hanoi (VNA)♏ - Vietnam Airlines Corporationachieved positive financial results, with total consolidated revenue reaching 71.77trillion VND (nearly 2.95 billion USD) in 2022.
The figure was announced at Vietnam Airlines’ 2023 annual generalmeeting of shareholders held last weekend.
The figure exceeded the plan set by the general meeting ofshareholders by 20% and was 2.4 times higher than the results in 2021.Additionally, the number of consolidated losses decreased compared to the planreported at the 2022 annual general meeting of shareholders.
In terms of passenger transportation, Vietnam Airlines carried18.24 million passengers, surpassing the planned number by 7.5%. Theinternational tourist output reached more than 2.47 million visitors, whiledomestic visitors reached 15.77 million. These figures exceeded the plannedtargets by 9% and represented a 14.2% increase compared to 2019.
The year 2022 presented significant challenges for the aviationindustry, including rising input costs, particularly fuel costs. The averagefuel price in 2022 was 124.4 USD per barrel, which was 14.1 USD higher thanplanned (110.26 USD per barrel). This increase led to fuel costs rising toapproximately 2.4 trillion VND. Compared to 2019, fuel costs increased by about7.6 trillion VND. Moreover, the USD appreciated significantly against othercurrencies in the past two decades, resulting in higher input costs due to thehigh USD/VND exchange rate.
Furthermore, 2022 was marked by major global changes in politics,economics, and society. The international air transport market began reopeningon March 15, but many countries still had entry and quarantine regulations inplace, which made passengers hesitant to travel. China's "zero-COVID"policy froze its market, and conflicts between Russia and Ukraine, along withthe potential risk of a European economic recession, added to the challengingenvironment.
Despite these difficulties, Vietnam Airlines proactively developedplans for various scenarios and operated its production and business activitiesin line with market recovery. The company prioritised safety in epidemicprevention and control while balancing operational efficiency. By the end of2022, Vietnam Airlines had restored its entire domestic flight network comparedto pre-pandemic times and resumed operations on over 70% of internationalroutes. Transport output exceeded the yearly plan by 7-8%.
The corporation also implemented cost-cutting measures to enhanceefficiency. Total cost reductions in 2022 amounted to approximately 7.2trillion VND, with efforts such as negotiating price reductions andimplementing savings initiatives contributing to cost savings of around 4.29trillion VND./.
Vietnam Airlines and Turkish Airlines signed an agreement on November 29 to promote cooperation in the field of air cargo transport to bring long-term value to customers and both airlines.
National flag carrier Vietnam Airlines on November 29 launched a direct route linking Da Nang international airport to Bangkok-based Don Mueang international airport.
The Ho Chi Minh City People’s Committee and the national flag carrier Vietnam Airlines on December 4 signed a comprehensive cooperation agreement for the 2023-2027 period to boost the city’s socio-economic development, particularly tourism.
Vietnam Airlines Group which comprises Vietnam Airlines, Pacific Airlines, and Vietnam Air Services Company (VASCO) has announced an additional capacity of over 100,000 seats, equivalent to nearly 550 flights, for the peak Lunar New Year (Tet) season from January 25 to February 24, 2024.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
General Director of Vietnam Airlines Le Hong Ha speaks at the 2023 annual general meeting of shareholders. (Photo courtesy of the corporation)
