02:58 (GMT +7) - Wednesday 07/12/2016

Business

Vietnam Airlines' revenue up 13% in Q1

Released at: 15:19, 26/04/2016

Vietnam Airlines' revenue up 13% in Q1

Pre-tax profit also up handsomely.

by Hoang Huong

Vietnam Airlines earned estimated consolidated revenue of more than VND19 trillion ($851.3 million) in the first quarter of 2016, a year-on-year increase of 13.3 per cent and reaching 26.4 per cent of the annual target.
Consolidated pre-tax profit was more than VND1 trillion ($44.8 million), up 32.5 per cent compared to the same period last year. The parent company is estimated to have earned more than VND15 trillion ($672.7 million) in revenue and VND873.9 billion ($39.2 million) in pre-tax profit.
During the first quarter of 2016 the airline carried more than 4.6 million passengers and nearly 61,000 tonnes of cargo, 11.6 per cent and 11.2 per cent, respectively, higher than planned.
The carrier said it is operating in a good business environment where the macro-economy remains stable with solid GDP growth. Fuel prices have been kept low while foreign exchange rates in key markets have increased against the US dollar.
It is still faces many challenges in the market, such as the threat of terrorism in Europe and doubts over the Zika virus arriving Vietnam, which have affected travel demand on international routes. Changing weather from climate change and poor infrastructure at a number of airports also impacted on its plans and services.

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