For the first time, VNA and its member airlines (including JPA and VASCO) have exceeded the VND 100 trillion mark in total consolidated revenue, generating approximately VND 102 trillion. Pre-tax profit reached VND 2.8 trillion, exceeding the planned figure of 15 percent. In which, VNA pocketed VND 73.5 trillion revenue and more than VND 2 trillion pre-tax profit.
Its contribution to the State budget is roughly VND 6.6 trillion. The financial fortunes are attributed to the Operating Profit Margin of 4.38 percent and Debt to Equity ratio of below 3, lower than that of the beginning of 2018.
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VNA and its member airlines have exceeded the VND 100 trillion mark.
In addition to the positive financial result, VNA has carried over 22 million passengers on 142,000 flights and 350,000 tons of cargo in 2018. VNA is among the world's leading airlines in on-time performance, scoring OTP at 90 percent averagely.
The airline made significant progress in modernizing the fleet and investing in technology with two wide-bodies Airbus A350 and three narrow-bodies A321Neo. As a 4-star airline recognized by Skytrax for three consecutive years, VNA takes great pride in providing the best flying experience using one of the youngest and most modern fleets in the region.
Reflecting on the year, Duong Tri Thanh, President and CEO of VNA said: “Vietnam Airlines’ strong earning performance capped another year of extraordinary achievement, including surpassing the VND 2 trillion mark in profit. We made significant progress on several key initiatives in 2018 including improved human resources management, enhanced product portfolio, and on-time-performance index. 2018’s success offered an unparalleled opportunity for Vietnam Airlines to unlock further growth and bolster the service quality.”
In 2019, VNA will continue to complete the remaining procedures relating to privatization: increasing charter capital and transferring to Ho Chi Minh Stock Exchange; complete fleet development plan for 2021-2025- vision till 2030, incorporate new digital industrial technology, known as Industry 4.0, synchronize IT system and leverage digital business.
