Vietnam Airlines had a pre-tax profit of about 7,700 billion VND last year

Vietnam Airlines’ consolidated pre-tax profit in 2024 was 7,720 billion VND, compared to a loss of more than 5,300 billion VND the year before.

Vietnam Airlines Corporation achieved revenue of almost 26,830 billion VND.

According to the recently issued consolidated financial report for the fourth quarter of 2024, Vietnam Airlines Corporation (Vietnam Airlines) generated revenue of almost VND26,830 billion, up 11.5% from the same period previous year. The dramatic decrease in cost of goods sold enabled the company to achieve a profit of VND4,377 billion, whereas the gross profit in the fourth quarter of 2023 was little more than VND189 billion.

After subtracting expenses, Vietnam Airlines’ consolidated pre-tax profit for the fourth quarter of 2024 was VND1,146 billion. This is the fourth consecutive quarter of profit for the national carrier.

Vietnam Airlines reports strong business outcomes for 2024.

Vietnam Airlines’ total income exceeded VND106,750 billion last year, representing a 16.5% increase over 2023. The airline’s overall pre-tax earnings exceeded VND7,720 billion, despite losing more than VND5,300 billion last year. These two revenue and profit statistics are the highest ever recorded by the national airline.

Vietnam Airlines reported strong commercial results after reinstating its whole international flight network and adding a number of new routes in 2024. Domestic airfares also rose in the first half of the year, with several routes costing 15-20% higher on average.

Vietnam Airlines has submitted a plan to issue shares to expand charter capital.

At the extraordinary meeting next month, Vietnam Airlines will present to shareholders a plan to issue shares to boost charter capital, as well as an update on the production recovery and restructuring plan through the end of 2025. This approach is intended to assist the company quickly increase its financial capabilities and maintain consistent cash flow. The corporation also sought shareholders’ feedback on the policy for the narrow-body aircraft investment project.

At the end of November 2024, the National Assembly authorized solutions to assist airlines in dealing with the epidemic. As a result, Vietnam Airlines is permitted to offer additional shares to current shareholders in two stages to expand its charter capital by a maximum of VND22,000 billion, subject to the restrictions of the Securities Law.

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