Vietnam Airlines profits soar 23.7 percent in Q1

      National carrier Vietnam Airlines announced pretax profits of 24 billion VND (1.35 million USD) in the first quarter of this year.
Total revenue reached 6.2 trillion VND (344.2 million USD) – 23.7 percent of the airline’s target for the year, the carrier said.
Unlisted Vietnam Airlines operated 18,087 flights in the first three months of the year, carrying almost 2.3 million passengers. The number of flights was up 4 percent on last year, equivalent to 695 flights, but the number of passengers fell by 5 percent.
The volume of domestic passengers increased by 1 percent on last year, reaching more than 1.39 million of passengers. The number of international passengers carried was 886,970, down by nearly 9 percent.
The seat occupancy rate for the period was 77 percent. The national carrier launched two new routes – Hanoi-Can Tho and Hanoi-Quy Nhon – in the first quarter of this year.
Vietnam Airlines carried about 28,600 tonnes of cargo during the first quarter of 2009, down 3 percent on the same period last year. The figure represented 23.8 percent of its yearly goal.
The airline paid approximately 49.2 billion VND (2.7 million USD) to the State budget in the first quarter.
General director of Vietnam Airlines Pham Ngoc Minh said it was a difficult year for the airline because of the global financial slowdown, as well as stiff competition in the airline industry.
Vietnam’s national carrier operates 64 routes to 20 domestic and 24 international destinations. Its fleet of 50 modern aircraft have carried more than 9 million passengers.
In 2006, it was officially accepted as a full member of the International Air Transport Association.