Vietnam Airlines has announced a profit rise of 87 per cent in half-year on year results compared to the same period last year, pocketing AU$82.4 million since January 2018.
The airline maintained its remarkable performance due to increased operational flexibility in the transportation of passengers and cargo.
In the first six months of 2018, Vietnam Airlines operated 72,800 flights with a high on time performance of 90 per cent; and transported 13.7 million passengers – an increase of four per cent compared to the same period last year. Cargo transported reached 167,000 tons, up 8.5 per cent over the same period, and close to 100 per cent of the planned targets for both the international and domestic markets.
Vietnam Airlines’ total consolidated revenue was estimated at AU$2.1 billion (VND 49.8 trillion) while the parent company’s revenue was estimated at AU$1.6 billion (VND 36.3 trillion). The Group’s pre-tax consolidated profit reached AU$57.8 million, more than double the planned figure.
Duong Tri Thanh, CEO and President of Vietnam Airlines said: “Vietnam Airlines always strives to maintain and develop our core values such as ensuring safety, achieving a high OTP index, and upgrading our 4-Star service quality which is greatly embedded with Vietnamese culture. Our good performance in the past six months, which has been recognised by our customers and partners, demonstrates our consistent commitment to enhancing the flying experience.”
The application of technology has enabled Vietnam Airlines to not only provide the most convenient services for passengers, but also contribute to reducing the pressure on airport infrastructure, especially at Tan Son Nhat airport. The rate of self-check-in at Tan Son Nhat, Noi Bai and Da Nang airports has reached high levels, at 42.4 per cent, 39 per cent and 292,2 per cent respectively.
On 22 May 2018, Vietnam Airlines completed the auction of purchase rights for additional shares of the State. This year to date has also seen the airline continue to enhance its largest airline cooperation with strategic partner ANA Holding Inc.
About Vietnam Airlines
Vietnam Airlines aims to restructure its human resources and improve productivity and has gradually reduced the labour force. The number of employees as of June 30, 2018 is 6,685 – 3 per cent fewer than the planned target and two per cent fewer than the same period in 2017. According to AAPA, the productivity of Vietnam Airlines in terms of passenger numbers is one of the top three airlines worldwide, while the quality of service is constantly increasing. Meanwhile, benefits and welfare for employees have been improving by an average of 8.8 per cent per annum during 2012-2018. This is also the period during which Vietnam Airlines completed its plans for salary reform.