Vietnam Airlines reports $25m profit for 2013

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vietnam-airlinesVietnam’s national carrier Vietnam Airlines earned 533 billion dong ($25.3 million) in gross profit in 2013, beating its own annual target by 34 per cent as seat occupancy reached a record high, the airline said in a statement on January 10 according to Reuters.

The flag carrier dominates the local market and has been preparing for an IPO in the second quarter of 2014 as part of Vietnam’s effort to boost financial and operational strength of a state sector with low efficiency despite easy access to credit.

Vietnam’s thriving airline industry is poised to boom as local competition heats up with fleet expansions, new routes and planned share offerings that are set to make it one of the world’s three fastest-growing markets.

Vietnam Airlines said revenues last year reached $3.45 billion, or 8.5 per cent above its annual target. It gave no comparative figures of its earnings for 2012. The airline carried around 15 million passengers last year with a record high seat occupancy of 79.5 per cent, the statement said.

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Reading Time: 1 minute

Vietnam’s national carrier Vietnam Airlines earned 533 billion dong ($25.3 million) in gross profit in 2013, beating its own annual target by 34 per cent as seat occupancy reached a record high, the airline said in a statement on January 10 according to Reuters.

Reading Time: 1 minute

vietnam-airlinesVietnam’s national carrier Vietnam Airlines earned 533 billion dong ($25.3 million) in gross profit in 2013, beating its own annual target by 34 per cent as seat occupancy reached a record high, the airline said in a statement on January 10 according to Reuters.

The flag carrier dominates the local market and has been preparing for an IPO in the second quarter of 2014 as part of Vietnam’s effort to boost financial and operational strength of a state sector with low efficiency despite easy access to credit.

Vietnam’s thriving airline industry is poised to boom as local competition heats up with fleet expansions, new routes and planned share offerings that are set to make it one of the world’s three fastest-growing markets.

Vietnam Airlines said revenues last year reached $3.45 billion, or 8.5 per cent above its annual target. It gave no comparative figures of its earnings for 2012. The airline carried around 15 million passengers last year with a record high seat occupancy of 79.5 per cent, the statement said.

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