The national carrier Vietnam Airlines reaped a record high pre-tax profit of over VND2.8 trillion (US$123.2 million) in 2017, beating its annual target by 72% and jumping 8.3% from the previous year, the airline reported on January 10.

The airline and its affiliates, including Vietnamese low-cost carrier Jetstar Pacific and Vietnam Air Service Company, carried around 26.5 million passengers and 343,000 tonnes of cargo on nearly 180,000 flights in 2017.

The national carrier now dominates the domestic market, with a market share of 60%.

The airline's impressive result was attributed to the expansion of its modern fleet, widespread routes, improved services, and the enhancement of bilateral and multilateral cooperation activities.

Earlier in January 2017, the state-owned airline floated over 1.2 billion shares on the Hanoi's Unlisted Public Company Market (UPCoM), becoming one of the largest public companies at that time.

Shares of the airline hit VND42,000 (US$1.85) apiece by the end of 2017, up 60% compared to the opening price of VND28,000 (US$1.23).

Vietnam Airlines also plans to list on the Ho Chi Minh City Stock Exchange (HOSE), the country's largest bourse in the second quarter of 2018 and continue to sell stakes to its shareholders to raise capital and reduce state holdings.


                                           Source: NDO

Related Topics

Industry – Key driving force for economic development

(HBO) – Hoa Binh province has invested much in industrial parks and clusters in recent years to attract more domestic and foreign investment. It is an important orientation in the province’s economic development strategy. Thanks to such effort, its industrial production reached more than 27.5 trillion VND (1.21 billion USD) last year, up 17.22 percent from the same period last year and 2.5 percent higher than the yearly target.

Yen Mong commune’s farmers strive to get rich

(HBO) – We visited the citrus orchard of Le Thi Thanh Tra’s family in Truong Yen village, Yen Mong commune, Hoa Binh city – one of outstanding economic models in the commune. Her orchard has about 120 grapefruit trees of different kinds, all of which are 13-14 years old. At this time, her grapefruit orchard is ripening, with all trees laden with fruits.

Hoa Binh city: industrial production value estimated to exceed 3 trillion VND

(HBO) – In 2017, Hoa Binh city paid attention to developing industries which had advantages in materials and market. It also created optimal conditions to draw more investment in the locality, especially in industrial parks on the left bank of Da River.

A startup business of selling clean food products

(HBO) – Working at the Provincial Farmer’s Association, the job seemed to keep on smoothly; Mr. Tran Van Tuong suddenly changed his job into another field: He himself ran his own business by opening a clean food store.

Hoa Binh moves to facilitate businesses’ access to land

(HBO) – Hoa Binh province is working to facilitate businesses’ access to land that is one of the 10 sub-indexes to measure the Provincial Competitiveness Index (PCI) – the rankings on which Hoa Binh fell six places from 2015 to the 52nd position among the country’s 63 provinces and cities in 2016.

Success from risk, patience with orange trees

"If I did not take a risk and patiently stick with my orange trees, my family would surely still be struggling to make ends meet”, Mr Tran Van Nghi, a farmer in Thanh Ha town (Lac Thuy district), said as he was pointing to his orange garden. After 10 years of facing troubles and failures, the orange garden has brought his family billions of VND in income each year.