Vietnam Airlines achieves third quarter revenue of nearly 1 billion USD

Vietnam Airlines recorded consolidated revenue of more than VND23,750 billion (nearly USD1 billion), up over 11% over the same period last year.

This is also the company's highest quarterly revenue since the pandemic broke out in early 2020 and is close to the average quarterly revenue in 2019 before the pandemic.

This positive result comes from the gradual recovery of the transportation market and Vietnam Airlines' proactive implementation of a series of short-term and long-term solutions such as flexible management of transportation capacity supply, maximum cost reduction, and negotiation of service price reductions...

This effort also helped reduce the loss in the third quarter of 2023 compared to the third quarter of 2022.

In addition, transportation business activities have not yet balanced revenue and expenditure because the international market has not fully recovered, especially key markets such as China, Japan, etc. and factors such as international conflicts, financial risks and input costs such as fuel prices, exchange rates, and interest rates continue to negatively affect production and business results.

Vietnam Airlines has completed the Corporation's restructuring project for the 2021-2025 period and reported it to shareholders and competent authorities for approval.

In the Project, in 2023 and the following years, the Corporation will synchronously implement solutions to overcome the situation of consolidated losses and negative consolidated equity, as well as synchronously implement solutions to enhance adaptation and improve business performance; restructure assets and financial investment portfolio to increase income, cash flow and prepare necessary conditions to implement the plan to issue shares to increase equity after being approved by competent authorities.

In the third quarter, Vietnam Airlines also implemented many large-scale programs and projects.

During the US President's official visit to Vietnam, Vietnam Airlines and Boeing signed a memorandum of understanding on the sale of 50 Boeing 737 MAX narrow-body aircraft worth 10 billion USD.

Vietnam Airlines' current fleet consists of 100 aircraft, including 65 narrow-body aircraft, operating more than 97 routes to 21 domestic destinations and 29 international destinations, connecting major cities around the world with attractive tourist destinations in Vietnam.

Vietnam Airlines also successfully hosted the 2023 World Aviation Safety and Operations Conference as the host, creating an opportunity for the airline to emphasize and raise awareness of the special importance of ensuring safety in operations.

Vietnam Airlines is an airline with a high level of safety control and implementation in the International Air Transport Association (IATA) when it has continuously maintained the IOSA operational safety certification for the 10th time during the nearly two decades since becoming a member of IATA; achieved a Proactive level of 4.0 on a scale of 5 for safety culture and was rated by Airlines Rating at the maximum level of 7/7 for safety level.

Vietnam Airlines has been continuously awarded regional and global awards such as “Asia's Leading Airline for Economy Class”, “Asia's Leading Airline for Cultural Identity”, “Asia's Leading Airline for Cabin Crew Services” and “Asia's Leading Airline for In-flight Magazine” by World Travel Awards 2023; Top 20 Best Airlines in the World by Airlines Ratings 2023, “5-Star International Airline” by The Airline Passenger Experience Association (APEX); The airline that has contributed the strongest sustainable development solution (Boldest Move) by SkyTeam Alliance.

During 30 years of development with a stable growth rate and being a modern airline with a widely known brand thanks to its distinct cultural identity, Vietnam Airlines is aiming to become a leading 5-star international airline in Asia.

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