Vietnam Airlines achieves highest revenue in history

Record revenue and profit

According to the consolidated report after audit, Vietnam Airlines' total revenue and other income in 2024 will reach VND 113,746 billion, of which the parent company's revenue and other income will reach VND 85,428 billion.

Consolidated after-tax profit reached a record of VND 7,958 billion, of which after-tax profit of the parent company reached VND 2,775 billion.

The profit level is mainly from the impressive recovery of the international aviation market (its international revenue increased sharply, up to 17.2% over the same period last year); Successfully negotiate with partners to delete debt of about 4,710 billion dong for Pacific Airlines under the ship payment agreement; Continue to improve the effectiveness of the parent company, resonate the ecosystem of business companies with profitable compared to the same period last year ...

Vietnam Airlines recorded a continuous positive production and business performance through the quarters. In 2024, the airline's transportation output will grow strongly with 22.7 million passengers (up 8% over the same period) and 314,700 tons of goods (up 40% over the same period).

The total network seat usage rate reached 80.6%. operational efficiency has improved significantly when the average flight time reached 11 hours/day per aircraft, an increase of 25% compared to 2023. The airline has operated 140,000 flights with a high punctuality index, with an OTP reaching 83.4% and an OTP reaching 81.9%.

Impressive achievements

Vietnam Airlines said that in recent times, the unit has implemented many important solutions such as focusing resources on maintaining the domestic flight network, ensuring smooth operating hours throughout the day, and consolidating position on key routes.

Taking advantage of the strong recovery of the international market, Vietnam Airlines has resumed most international routes and opened many new routes.

In 2024, the airline has launched new international routes such as Hanoi/HCMC - Munich (Germany), Hanoi/HCMC - Manila (Philippines), Hanoi - Phnom Penh (Cambodia). At the same time, Vietnam Airlines has deployed wide-body flights on routes between Vietnam and India, Singapore, and China.

In addition, the airline has optimized operations by changing the method of building and operating flight schedules, effectively managing Slot funds to maximize aircraft efficiency.

The company raises service standards towards developing high-end products, increasing competitiveness and promoting digital transformation, applying technology to improve management quality as well as increase labor productivity.

Vietnam Airlines has implemented a series of sustainable development programs in 2024 such as pioneering in using sustainable fuel SAF, launching the campaign "Flying lightly to Con Dao", "Gap la rung", participating in the He for She gender equality campaign, accompanying the whole country in providing relief to flood-affected areas and overcoming the consequences of storms and floods...

In 2024, the Government and the National Assembly also approved the final solutions in Vietnam Airlines' overall restructuring plan. Accordingly, in 2024-2025, the Company will synchronously implement solutions to overcome the situation of equity minus such as: restructuring assets and financial investment portfolio to increase income and cash flow.

Thanks to the synchronous implementation of recovery and development solutions, Vietnam Airlines has achieved positive results. This continuous effort is clearly demonstrated by a series of prestigious awards from domestic and foreign organizations, including: Top 5 Asia's Most Purious Airline voted by Cirium a UK-based aviation data analysis company; the title Best 5-star Airline for Customer Experience awarded by APEX; Top 11 World's Leading Airline and The most valuable private airline awarded by AirlineRatings...

By 2025, the airline aims to transport 25.4 million passengers and 336,300 tons of goods, while aiming for a combined revenue of VND 119,154 billion.

Along with that, the task of restructuring enterprises will be strongly implemented to optimize operational efficiency, while building a strong corporate culture, attaching importance to safety and sustainable development. In 2025, Vietnam Airlines will continue to focus on increasing aircraft fleet performance, improving labor productivity and promoting digital transformation in operations. The airline will reopen and restore 15 international routes to countries such as Russia, Italy, Denmark, the Middle East, China, etc.

By constantly developing the flight network, Vietnam Airlines affirms its important role as a bridge, creating momentum for the goal of welcoming 22-23 million international visitors to Vietnam in 2025.

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