A year of bearing fruit

09/01/2018 11:32

Despite many challenges, including volatile fuel prices and strong competition in the global civil aviation market, Vietnam Airlines made impressive strides in 2017. By making our corporate governance and entire system more efficient, we were able to achieve outstanding business performance and growth.

Smashing records
  In 2017, Vietnam Airlines operated over 130,000 flights and carried approximately over 21.2 million passengers, up six percent year-on-year. After 22 years of operations (1995 to 2017), we officially became the first carrier in Vietnam to have carried over 200 million passengers. As the National Airline and a special sponsor of the APEC Summit hosted in Vietnam last November, Vietnam Airlines successfully provided safe and meticulous services to 35 VIP flights carrying 16 heads of states and leaders of the summit's member economies, as well as hundreds of special flights.


  When it comes to business performance, Vietnam Airlines smashed all records made in 2016, with our gross consolidated revenue hitting roughly 83,690 billion VND, up by 16.8 percent, and our consolidated profit before tax 2,826.7 billion VND, up by 8.6 percent year-on-year. Contributions to the state budget were 6,302.98 billion VND, a rise of 21.3 percent.


 In the domestic aviation market, Vietnam Airlines continued to join our two subsidiaries Jetstar Pacific and VASCO in maintaining our overall lead, accounting for 58.7% percent of market share and establishing an extensive route network with a wide range of products to meet our passengers’ needs.
Vietnam Airlines’ consolidated revenue and pre-tax profit:     

 

Consolidated revenue (billion VND)

Consolidated pre-tax profit (billion VND)

2015

 65.942

 1.049

2016

71.642

2.600

2017

83.690

2.826



Innovating and upgrading service quality
  As well as operating the world’s youngest and most advanced fleet, which includes 11 Boeing 787-9 Dreamliners and 10 Airbus A350-900 XWB aircraft, Vietnam Airlines has worked tirelessly to upgrade and apply new technology to enhance our service quality, thereby improving comfort and convenience for our passengers. In 2017, Vietnam Airlines founded the 24/7 Customer Contact Center; implemented Fast Track services at several airports for Business and Premium Economy passengers and Platinum Lotusmiles members; and raised the passenger threshold for toddlers below age two to 15% on every flight. Most impressively, we worked hard to bring our On Time Performance (OTP) ratio into the top tier in the world, with our 2017 OTP ratio for departing flights reaching 90 percent, up five percent from 2016.


Bolstering cooperative ties to bring more benefits to passengers

  As the first member of the SkyTeam global air alliance in Southeast Asia, Vietnam Airlines has constantly extended our network of partners both within and outside this alliance. Our partners include Japan’s largest airline conglomerate ANA Holding Inc. – the strategic partner of Vietnam Airlines; the National Airline of France - Air France; the National Airline of Indonesia - Garuda Indonesia; the National Airline of Poland - LOT; and Bangkok Airways (Thailand). We have also founded partnerships with many key domestic businesses to add more value to our passengers.


New engines for growth
Vietnam Airlines made big strides in 2017, being registered by the independent airline rating organization SkyTrax as a 4-star airline for the second year running. We were also voted among the “Top 50 Airlines of the World” and “World’s 20 Best Premium Economy Class 2017". Vietnam Airlines earned many prestigious prizes and titles, such as the “Airline of the Year in Asia – Pacific" from the Center for Asia – Pacific Aviation (CAPA); “World’s Leading Cultural Airline” and “World’s Leading Airline - Premium Economy Class” in 2017 at the World Travel Awards. Recognition of the huge progress made by Vietnam Airlines last year came from both our passengers and the international civil aviation community.


Our successes in 2017 give us a lift to continue to work towards new goals, including listing our shares (code: HVN) on the Ho Chi Minh Stock Exchange (HOSE)scheduled in the later half of Q2, 2018; continually upgrading our service quality; further extending our route network; and striving to become a favorite 5-star airline in Asia-Pacific in the foreseeable future.

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