Vietnam Airlines reports stronger profit in 2016
Vietnam Airlines and its subsidiaries earned a consolidated pre-tax profit of US$113.7m in 2016, which represents a 140% increase on the previous year, according to the company’s initial estimates. The carrier’s core operation is estimated to have contributed $72.7m in pre-tax profit, more than 5 times the profit from 2015. The group recorded $3.45b in consolidated revenue for 2016, up 10% from 2015. VNA contributed $2.7b of the total. The airline increased its passenger total by 18.7%, and its cargo volume was 10% ahead of its plan. The carrier’s profit projection comes in the same week as its Jan 3 listing on the Hanoi Stock Exchange. The company is still 86% owned by the govt, and strategic investor ANA holds a share of almost 9%. Some shares were made available to the public and employees in a previous IPO. <br/>
https://portal.staralliance.com/cms/news/hot-topics/2017-01-05/sky/vietnam-airlines-reports-stronger-profit-in-2016
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Vietnam Airlines reports stronger profit in 2016
Vietnam Airlines and its subsidiaries earned a consolidated pre-tax profit of US$113.7m in 2016, which represents a 140% increase on the previous year, according to the company’s initial estimates. The carrier’s core operation is estimated to have contributed $72.7m in pre-tax profit, more than 5 times the profit from 2015. The group recorded $3.45b in consolidated revenue for 2016, up 10% from 2015. VNA contributed $2.7b of the total. The airline increased its passenger total by 18.7%, and its cargo volume was 10% ahead of its plan. The carrier’s profit projection comes in the same week as its Jan 3 listing on the Hanoi Stock Exchange. The company is still 86% owned by the govt, and strategic investor ANA holds a share of almost 9%. Some shares were made available to the public and employees in a previous IPO. <br/>
