Vietnam Airlines revises down revenue goals for 2019Friday, August 23,2019
AsemconnectVietnam - Vietnam Airlines Group, listed with code HVN, has revised down the projected consolidated revenue for 2019 from over 111.7 trillion VND (4.8 billion USD) as set in the shareholders’ annual general meeting in May to nearly 104.6 trillion VND (4.5 billion USD).
The projected number of passengers flying with the carrier was lowered from 24.9 million to 23.4 million while the volume of cargo it expects to transport this year was reduced by 16,000 tonnes to 357,000 tonnes.
The State-owned group, which includes Vietnam Airlines, Jetstar Pacific and VASCO, earned nearly 52 trillion VND (2.24 billion USD) in consolidated revenue in the first half of this year, marking a year-on-year increase of 5.5 percent.
The group’s consolidated profit for the first half reached 6.45 trillion VND and pre-tax profit nearly 1.79 trillion VND, down 3.5 percent and 3.7 percent year-on-year, respectively.
Over the course of six months, Vietnam Airlines safely flew over 13.9 million passengers, a 2-percent increase from 2018, and over 180,000 tonnes of cargo, up 1.6 percent year-on-year, on 73,650 flights. Its on-time performance (OTP), averaging at 90 percent, remained among the highest globally. Demand-responsive load factor led to significant fuel saving and higher seat utilisation of 80.3 percent.
Having boosted its charter capital to more than 14.18 trillion VND, Vietnam Airlines had its own shares (HVN) officially listed on the Ho Chi Minh Stock Exchange (HOSE) on May 7, 2019.
In the second half of the year, Vietnam Airlines plans to push for organisational restructuring, take delivery and operate 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.
The firm said it would continue to improve customer experience by offering onboard Wi-Fi services, introducing a brand-new Business class menu and rigorously replacing environmentally-unfriendly supplies onboard.Source:
Tuong An Vegetable Oil achieved 22% profit growth in the first quarter of 2020
Garment 10 to produce medical face masks, first export order worth US$52m
Kidofoods (KDF) moved the distribution system, Q1 profit increased by nearly 16%
Phuoc Hoa Rubber (PHR): Q1/2020 profit increases by nearly 160% quarter on quarter
PV Power marks impressive milestone of 200 billion kWh
Vietravel Airlines project given go-ahead
Beer enterprises plan to reduce profits sharply
PetroVietnam’s crude oil production surpasses target in Q1
Danang Rubber (DRC) set business plan in 2020
16,000 businesses still need Ministry of Finance rescue
Vicostone (VCS) estimated profit after tax increasing by 16.66 percent in Q1/2020
Profit of Ca Mau Fertilizer higher than plan in Q1/2020
Singaporean firm wants to up stake in Vinamilk
Many firms optimistic about business in Q2