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

Economy expected to see brighter prospects

Improved macro-economic foundations, together with strong investment levels and exports, are expected to continue helping to drive Vietnam’s growth forwards.

The leader of the beekeeping Cooperative group becomes successful thanks to his prestige and dynamism.

(HBO) – We were being so impressed when visiting the honey beekeeping model of Mr. Nguyen Van Tuoi in Sau Ha village, Thanh Luong commune.

Da Bac district brings indigenous pig products to the commodity market.

(HBO) - Indigenous Pigs are one of the special famous livestock of Da Bac highland district.

Co Nghia commune given facelift

(HBO) – Visitors to Co Nghia commune, Lac Thuy district, the northern mountainous province of Hoa Binh, will be surprised at changes in the locality since it was recognised as a new-style rural area three years ago. Roads connecting hamlets and public facilities have been built. Besides, production models have brought about high economic values, helping local residents have stable jobs and improve their living standards.

Lac Thuy’s implementation of Resolution on investment attraction reviewed

(HBO) – Successes from the implementation of the Lac Thuy district Party Organization’s Resolution 14-NQ/HU in recent years has created a strong foundation for the district to take 9 out of its 15 communes and towns into Hoa Binh province’s area of economic drivers.

Farmers in Yen Mong commune converted their crop structure effectively

(HBO) - Mr. Nguyen Van Vin, the Chairman of Farmers Association of Yen Mong commune, said: "In recent years, the movement of farmers emulating economic development to change the structure of plants and animals for rising value on a hectare of cultivated area has been implemented very excitingly.”