Vietnam Airlines completes 2016 business plan
Monday, June 19,2017AsemconnectVietnam - National carrier Vietnam Airlines said it had achieved the business target set by its shareholder last year.
However, the carrier said that with the budget carriers continuously expanding their operations on both international and national routes, the competition had intensified.
In the domestic market, the firm supply was up 32 percent in 2016 compared with 2015, but the purchasing power increased only 14 percent, bringing down the average revenue of all airlines by 12 percent.
Meanwhile, the budget airlines expanded their operation to other regions, including Southeast Asia and Northeast Asia, marking a 14 percent rise in the market share from 8 percent in 2015.
Vietnam Airlines said the overload at airports, especially at Tan Son Nhat International Airport in HCM City, had resulted in an increase of 1,392 flying hours, incurring an additional cost of 188 billion VND to the airline.
The firm predicted high growth in the aviation market this year with 23.6 million international visitors and 31.6 million domestic visitors, a 14.7 percent and 12.1 percent increase, respectively, when compared with last year.
However, Vietnam Airlines said there would be a lot of challenges, especially in the plan of repairing Noi Bai and Tan Son Nhat international airports, which may reduce their capacity to 70 percent. Noi Bai Airport will reduce from 35 flights per hour to 22-24 flights; meanwhile Tan Son Nhat Airport will scale down from 40- 42 flights per hour to 28-30 flights. Therefore, airlines will have to restrict 15 percent of the total flights arriving and landing in the airport in the day.
According to the business report of Vietnam Airlines, the corporation operated 138,764 flights last year, up 6.4 percent compared with the target for the year.
The 2016 aviation market’s growth rate was 25.7 percent higher than that of 2015, in which international market increased by 17 percent, while the domestic market rose 33 percent.
In the domestic market, the firm supply was up 32 percent in 2016 compared with 2015, but the purchasing power increased only 14 percent, bringing down the average revenue of all airlines by 12 percent.
Meanwhile, the budget airlines expanded their operation to other regions, including Southeast Asia and Northeast Asia, marking a 14 percent rise in the market share from 8 percent in 2015.
Vietnam Airlines said the overload at airports, especially at Tan Son Nhat International Airport in HCM City, had resulted in an increase of 1,392 flying hours, incurring an additional cost of 188 billion VND to the airline.
The firm predicted high growth in the aviation market this year with 23.6 million international visitors and 31.6 million domestic visitors, a 14.7 percent and 12.1 percent increase, respectively, when compared with last year.
However, Vietnam Airlines said there would be a lot of challenges, especially in the plan of repairing Noi Bai and Tan Son Nhat international airports, which may reduce their capacity to 70 percent. Noi Bai Airport will reduce from 35 flights per hour to 22-24 flights; meanwhile Tan Son Nhat Airport will scale down from 40- 42 flights per hour to 28-30 flights. Therefore, airlines will have to restrict 15 percent of the total flights arriving and landing in the airport in the day.
According to the business report of Vietnam Airlines, the corporation operated 138,764 flights last year, up 6.4 percent compared with the target for the year.
The 2016 aviation market’s growth rate was 25.7 percent higher than that of 2015, in which international market increased by 17 percent, while the domestic market rose 33 percent.
Source: Vietnamplus.vn
SSI Research revised down forecast PV Gas’s revenue and net profit in 2023
Petrosetco's profit (PET) decreased by 50% to VND35 billion in the first 2 months of 2023
GC Food (GCF) target VND523 billion revenue in 2023
Mobile World (MWG): Revenue of Mobile World and Dien May Xanh chains down 32% in the first 2 months of 2023
SHS Securities reported a profit of VND197.2 billion in 2022 after the audit
IDI Multinational Development and Investment (IDI): Profit expected down 66.7% to VND186 billion in 2023
International Bank (VIB) spends over VND1,000 billion to pay the remaining dividend in 2022
Business activities of seafood companies in March 2023
Eximbank (EIB) target VND5,000 billion profit, up 34% in 2023
Business activities of banks in March 2023
Saigon Newport announced Tan Cang - Long Binh dry port and Organized the Customer Appreciation Conference in Dong Nai
VIB General Meeting of Shareholders: Approved the plan to pay 35% dividend, profit VND12,200 billion
In 2023, Refrigeration Electrical Engineering (REE) plans to increase profit slightly by 0.3% to VND 2,700 billion
PVOIL (OIL): Outstanding output growth in 2022
Plan on implementing Decision No. 327/QD-TTG dated March ...
Concretize viewpoints, objectives, tasks and solutions of the plan in accordance with practical conditions of the locality, associating ...Plan on implementing national environmental protection ...
Implementation plan of marine aquaculture development ...
Program on conservation and development of Vietnamese ...
Plan on improving quality of human resources to 2025 and ...
Efforts taken to turn culinary culture into national ...
The Vietnam Cuisine Culture Association (VCCA) is taking steps to implement a project to build and develop Vietnamese culinary culture ...Vietnamese cuisine making a name for itself with ...
Vietnam advance to next round of AFC U20 Women’s Asian Cup
Cultural tourism and traditional values promoted through ...