In 2024, Vietnam Airlines aims to balance its revenue and expenses.

Vietnam Airlines Corporation recorded consolidated revenue of VND 93,265 billion in 2023, nearly 30% higher than the same period last year and approaching the peak level of 2019.

Vietnam Airlines has restored its international flight network to approximately 90% of the 2019 level.

At the shareholders' meeting held on June 21, 2024, Mr. Dang Ngoc Hoa, Chairman of the Board of Directors of Vietnam Airlines Corporation, stated that the most difficult period for the aviation industry has passed, and the Corporation's business prospects are assessed as more positive in the coming time. In 2023, Vietnam Airlines Group transported more than 24.1 million passengers and 230,000 tons of cargo, an increase of 16.4% and 5.8% respectively compared to the same period. The positive operating results helped Vietnam Airlines achieve consolidated revenue of VND 93,265 billion, nearly 30% higher than the same period in 2022 and approaching the peak level of 2019. The consolidated pre-tax loss decreased by VND 5,583 billion, half the amount in 2022. To achieve these results, Vietnam Airlines proactively implemented a comprehensive set of self-help solutions and closely monitored market developments. To date, the airline has restored its international flight network to approximately 90% of its 2019 levels, opening new routes such as Hanoi /Ho Chi Minh City-Mumbai, Hanoi-Melbourne, and Ho Chi Minh City-Perth. The domestic flight network continues to operate with the number of routes recovered to levels similar to those before the Covid-19 pandemic. In addition, Vietnam Airlines focuses on cost management and thorough cost savings. Besides reducing costs based on volume, the Corporation has implemented cost-saving measures, negotiated price reductions, and deferred payments, resulting in estimated cost reductions of over VND 3,200 billion; proactively restructuring loan debts and flexibly utilizing short-term loan capital. Given its business characteristics in the service sector, Vietnam Airlines has intensified its strategy of upgrading services, increasing the application of new technologies and software in various work processes and service touchpoints. These solutions not only help the airline boost labor productivity but also enhance passenger satisfaction. As a result, in 2023, the Customer Satisfaction Index (CSI) exceeded its targets, with domestic CSI reaching 4.17 points and international CSI reaching 4.0 points. Reporting on the 2024 business plan, Mr. Le Hong Ha, General Director of Vietnam Airlines, stated that the domestic aviation market is projected to grow by 6%-8%. The airline is focusing on preparing investments in narrow-body aircraft projects and projects to convert the configuration of A321ceo aircraft to improve operational efficiency, meet market demands, and develop in line with the fleet restructuring plan. Regarding services, the airline aims for 5-star standards and is expanding its "Elevating Service" program to inspire and promote innovation. Simultaneously, the airline is designing excellent experiences along key routes, improving workflows, and applying digital transformation to enhance management efficiency and customer experience. Vietnam Airlines also aims to continue implementing restructuring to overcome the consequences of the Covid-19 pandemic and create a foundation for sustainable development; focusing on completing divestment in some member companies and submitting to competent authorities a plan to extend the repayment of refinancing loans; while also promoting organizational restructuring, reducing intermediate levels, investing in technology and digital transformation to improve labor productivity and the quality of human resources. Based on forecasts of the business environment, Vietnam Airlines has developed key objectives, directions, and tasks for 2024. In particular, it focuses on implementing the enterprise restructuring plan with the goal of reducing remaining losses and achieving a balance between revenue and expenditure in 2024.

TO HA

Source: https://nhandan.vn/nam-2024-vietnam-airlines-dat-muc-tieu-can-doi-thu-chi-post815445.html