Illustrative image (Source: Vietnam Airlines)Hanoi(VNA) – The national flag carrier Vietnam Airlines and its subsidiaries postedcombined revenue exceeding 76 trillion VND (3.34 billion USD) in 2016, up morethan 10 percent year on year.
Of the total,profit before tax amounted to almost 2.5 trillion VND (110 million USD), anannual increase of 140 percent and a gain of 7 percent compared to the yearlyplan.
The airline alonereeled in nearly 59.1 trillion VND (2.6 billion USD) in revenue and 1.6trillion VND (70.4 million USD) in profit before tax. It contributed approximately4.9 trillion VND (215.6 million USD) to the State budget, up about 11 percentfrom 2015.
Last year, VietnamAirlines received and put into use ten Boeing 787-9 Dreamliners and six AirbusA350-900 XWB. It operated more than 133,000 flights, carrying 20.6 millionpassengers and 264,000 tonnes of goods.
The carrier wasalso certified as a four-star airline by the UK-based airline and airportrating organisation SkyTrax, which also ranked Vietnam Airlines third on itslist of most improved airlines across the world in 2016.
Meanwhile, it has completedequitisation and is scheduled to step into the Unlisted Public Company Market(UPCoM) on January 3, 2017.
The aviationcorporation also signed up with a Japanese strategic partner - ANA HoldingsInc., which acquired 8.77 percent stake in Vietnam Airlines.
The corporationsaid positive growth of the aviation sector and feasible management policieswere key to its success last year, and better market distribution amongcarriers – Vietnam Airlines, Jetstar Pacific and VASCO – has established aflight network that better suits passengers’ demand.
While VietnamAirlines focuses on 4-star services on major domestic and internationalflights, low-cost Jetstar Pacific prioritises domestic routes that enablecompetitive prices and short international routes. VASCO, meanwhile, caters forprovincial airports that are yet to accommodate big aircraft.
A recent report fromthe Centre for Asian-Pacific Aviation (CAPA) showed that Vietnam Airlines held 45percent and 60 percent of market share of the major Hanoi – Ho Chi Minh airroute and of the entire aviation market in Vietnam, respectively.
Vietnam Airlinesleaders noted that safe flights and 4-star services, fulfilling more than 90percent of SkyTrax requirements, as well as stronger partnerships with JetstarPacific, Cambodia Angkor Air and VASCO continue to be priorities of this year.-VNA
VNA
