Vietnam Airlines Group makes USD 2.24 billion in revenue

Vietnam Airlines Group earned nearly VND 52 trillion (USD 2.24 billion) in consolidated revenue in the first half of this year, marking a year-on-year increase of 5.5%. Its consolidated pre-tax profit was estimated at VND 1.65 trillion, up 30% compared to the plan.

Vietnam Airlines said that continued improvement in cash flow enabled higher solvency, more short-term investments and increased corporate income. Over the course of six months, Vietnam Airlines safely flew over 13.9 million passengers, a 2% increase from 2018, and over 180,000 tonnes of cargo, up 1.6% year-on-year.

Its on-time performance (OTP), averaging at 90%, remained among the highest globally. Demand-responsive load factor led to significant fuel saving and higher seat utilisation of 80.3%. Vietnam Airlines Group (including Vietnam Airlines, Jetstar Pacific and VASCO) continued to spearhead the local aviation market, carrying approximately 51% of the market share in passenger volume.

In the second half of this year, Vietnam Airlines plans to push for organisational restructuring, completing its 20 narrow-body Airbus A321neo fleet, taking delivery and operating the first three wide-body Boeing 787-10, out of its order of eight aircraft, and finalise the investment plan of 50 narrow-body aircraft for the 2021-25 period.