Vietnam Airlines reports 11 per cent fall in half-year pre-tax profit
Trang Nguyen
July 17, 2019 | 01:44 PM GMT+7
The national flag carrier has revealed its second quarter’s business results with a VND51.6 trillion ($2.24 billion) in revenue, up 5.5 per cent on-year. Its pre-tax profit has nevertheless been down by almost 11 per cent on-year to VND1.65 trillion ($71.73 million).
Vietnam Airlines and its subsidiaries, have experienced a decline of 10.8 per cent in pre-tax profit
According to Vietnam Airlines, on a single basis, it has estimated a total revenue for the first two quarters at VND38.3 trillion ($1.66 billion), up 5.8 per cent on-year and an accumulated pre-tax profit of VND1.78 trillion ($77.39 million), an increase of 21.8 per cent on-year.
On the consolidated basis, Vietnam Airlines and its subsidiaries, however, have experienced a decline of 10.8 per cent in pre-tax profit when they achieved merely VND1.65 trillion ($71.73 million) compared to 2018’s VND1.85 trillion ($80.43 million).
Vietnam Airlines saw its business performance as rather positive, given the slower growth of the aviation market, the fluctuation of the foreign exchange and the rising fuel prices seen in the past five months.
Together with its subsidiaries Jetstar Pacific and Vietnam Air Services Company (VASCO), Vietnam Airlines currently accounts for some 51 per cent of the domestic share in air passenger transport.
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