Vietnam Airlines lifts revenue for first nine months

November 4, 2019

HANOI - For  the first nine months of 2019, Vietnam Airlines Group has reported a total consolidated revenue exceeding VND 76.7 trillion (US$3.3 billion), with consolidated profit before tax (PBT) reaching nearly VND 3.3 trillion (US$142 million), accounting for 97.9% of the full-year target.

The parent company - Vietnam Airlines - earned more than VND 57.4 trillion (US$2.5 billion) in revenue and VND 2.7 trillion (US$116 million) in profit before tax, up 52.8% on-year.

In the third quarter of 2019, the consolidated PBT of the Group and the parent company reached VND 1.5 trillion (US$64 million) and VND 856 billion (US$36 million), respectively.

The group carried more than 21.4 million passengers, up 3.2% on the prior year, and more than 256,000 tonnes of cargo. On-time performance was at 90%.

In the first nine months, VN took delivery of two more Boeing 787-10s and 10 A321neos, and launched new international routes to Taiwan and Busan.

In its announcement today, the airline said it had strengthened its co-operation with international carriers such as Delta Airlines and China Airlines to launch connecting flights to the U.S., as a prerequisite for development of Vietnam - U.S. direct flights.

In September, Vietnam Airlines officially opened Vietnam-Singapore Engineering Technology Co., Ltd. (VSTEA) to enhance its aircraft repair and maintenance capability. (ATI).