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Vietnam Airlines' pre-tax profit at $62.2 million

Released at: 09:06, 05/01/2016

Vietnam Airlines' pre-tax profit at $62.2 million

National flag carrier announces performance for 2015, with profit up substantially.

Vietnam Airlines earned VND69 trillion ($3 billion) in revenue and VND1.4 trillion ($62.2 million) in pre-tax profit in 2015, a 194 per cent increase compared to 2014, Mr. Pham Viet Thanh, Chairman of Vietnam Airlines (VNA), told a recent conference in Hanoi.

The carrier transported nearly 17.4 million passengers during the year, 4.8 per cent higher than its target. In 2016, Mr. Thanh said, it aims to transport 19.2 million passengers, a 10.6 per cent increase against 2015, with revenue of VND78 trillion ($3.4 million) and pre-tax profit of VND2.3 trillion ($102.2 million).

From 2012-2015 it divested from 13 enterprises, three more than called for in its restructuring plan. The divestments totaled VND819 billion ($36.4 million); double the investment made.

The national flag carrier made progress in its restructuring and equitization plans. After becoming a joint stock company on April 1, 2015, it worked hard to identify strategic investors. It has basically completed negotiations over share purchase contracts and may sign these contracts in the first quarter of the new year. The names of these investors are yet to be revealed.

Huyen Thanh

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