According to Vietnam Airlines, the national flag carrier of Vietnam, the airline transported nearly 11.3 million passengers in the first half of the year, an approximate 11% increase compared to the same period last year. Cargo transportation reached nearly 141,000 tons, a slight increase compared to 2023, and a 27.4% surge against the 2024 plan.
Mr. Dang Ngoc Hoa, Chairman of the Board of Directors, attributed the impressive consolidated revenue and profit to the resolute negotiations with international creditors and favorable market factors. Mr. Hoa expressed confidence in achieving a balanced budget for 2024, barring any significant disruptions.
Despite a 14% shortfall in the number of aircraft compared to 2019, Vietnam Airlines has implemented various initiatives, including night flights, to offer reduced fares for passengers.
Given the positive results, the Board of Directors decided to increase the position-based salary by 6% for all employees. The management also approved a half-month bonus for the entire staff. Compared to 2023, the position-based salary has increased by 12% and reached 92% of the 2019 level.
At the end of June, Vietnam Airlines held its Annual General Meeting for 2024. Information disclosed at the meeting revealed that in 2023, the airline transported over 24.1 million passengers and 230,000 tons of cargo, representing a 16.4% and 5.8% year-on-year increase, respectively. The favorable operational results contributed to consolidated revenue of VND 93,265 billion, nearly 30% higher than in 2022, and approaching the peak level of 2019. The consolidated pre-tax loss decreased by VND 5,583 billion, halving the loss compared to 2022.
For 2024, Vietnam Airlines’ primary goal is to reduce losses and strive for a balanced budget. To achieve this, the airline will expand its international network with new routes to Western Europe and Southeast Asia. In the domestic market, Vietnam Airlines will adjust flight frequencies to match market demand, maintain its dominant market share on key routes, and increase capacity on tourism routes. The corporation proactively formulates contingency plans and enhances its capabilities in product and pricing management.
Vietnam Airlines sees promising results in its quest for financial balance
By the end of 2023, this business has incurred a total loss of over 5.8 trillion VND despite a 30% increase in revenue.
Dizzying experience for passengers as flights at Tan Son Nhat Airport are forced to reschedule
Due to inclement weather, a number of flights from Tan Son Nhat Airport in Ho Chi Minh City to various provinces and cities have been delayed, causing inconvenience to waiting passengers.
Increase flight frequency to Dien Bien during the Lunar New Year holiday Giap Thin.
To meet the high demand of passengers during the Tet holiday, Vietnam Airlines will be increasing the frequency of flights on the Hanoi – Dien Bien route. Specifically, there will be additional flights on February 7th – 8th, 2024 (equivalent to the 28th – 29th day of the 12th lunar month, Year of the Cat) and from February 12th – 15th, 2024 (equivalent to the 3rd – 6th day of the 1st lunar month, Year of the Horse).
Buzzing with Commercial and Service Activities on the Eve of Tet
January is a bustling time of the year as the Lunar New Year approaches. Commercial and service activities are in full swing to cater to the consumer needs of the people…
How did Vietnam’s two biggest airlines perform in 2023: One made a profit of over 300 billion, while the other incurred losses of over 5,000 billion
Vietnam Airlines and Vietjet Air, two leading airlines in Vietnam, have recently released their financial reports for the year 2023.
