Vietnam Airlines profits surge 140% in 2016

Tuesday, 2017-01-03 04:20:09
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NDO - The national flag carrier Vietnam Airlines (VNA) has reported pre-tax earnings of nearly VND2.5 trillion (US$110 million) in 2016, a year-on-year surge of 140%, the company said on January 2.

According to the consolidated financial statement, revenues of Vietnam Airlines and its subsidiaries rose 10% last year to more than VND76 trillion (US$3.34 billion).

VNA alone generated revenues of nearly VND59.1 trillion (US$2.6 billion) and earned profits of VND1.6 trillion (US$70.4 million), nearly six times the figure reported in 2015. The company contributed nearly VND4.9 trillion (US$215.6 million) to the State budget.

Last year VNA operated more than 133,000 flights, carrying 20.6 million passengers, up 18.7%, and 264,000 tonnes of cargo, exceeding the yearly target by 10%.

In 2016 Vietnam Airlines signed a deal with Japan’s All Nippon Airways under which the Japanese carrier became an official strategic shareholder of Vietnam Airlines with 8.77% of its stakes.

The company also received ten Boeing 787-9 Dreamliners and six Airbus A350-900 XWB aircraft to serve key domestic routes and long-haul international flights.

In 2017 the carrier aims to ensure safety and security for all of its flights and maintain its four-star quality as rated by the UK consultancy firm Skytrax.