Vietnam Airlines Corporation reported after-tax profit of 4.44 trillion VND (173.19 million USD) in Quarter 1 as it is strengthening its international flights and restructuring.
Vietnam Airlines Corporation reports after-tax profit of 173.19 million USD in Quarter 1. (Photo: VNA)
Hanoi (VNA) – Vietnam Airlines Corporation reported after-tax profit of4.44 trillion VND (173.19 million USD) in Quarter 1 as it is strengthening itsinternational flights and restructuring.
Revenuefrom international transport during the period topped 13.8 trillion VND, ayear-on-year surge of 30.4%, and accounting for 65% of the carrier’s totalearning, three folds higher than the lowest ever figure in Q1 of 2021.
The airline also attributed the robust business to the peak travel season aswell as its improved service quality and digital transformation that helpedattract high-spending passengers.
It provided services for more than 5.74 million passengers, rising 12.7%against the same time last year. The occupancy rates were 86% for domesticflights and 80% for international ones.
A Vietnam Airlines representative said drastic measures were carried out toimprove the fleet’s capacity and cut costs.
Under its restructuring plan during the 2021-2025, the airline willroll out solutions to enhancing its adaptability, restructure its assets and investmentportfolios to increase income, while preparing for a share issuance to raise itsreturn on equity after getting approval from relevant authorities.
According to statistics from the Civil Aviation Authority of Vietnam, a totalof 66,605 flights were operated by domestic airlines during the first three months of the year, with28,287 by the national flag carrier Vietnam Airlines alone.
The airline offered 575,000 seats on some 2,900 flights during the ReunificationDay and International Labour Day holiday to meet passengers’ travel demand./.
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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.
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Vietnam Airlines Corporation reports after-tax profit of 173.19 million USD in Quarter 1. (Photo: VNA) 
