Vietnam Airlines Reports Profitable Year 2024

Vietnam Airlines, the national carrier of Vietnam, has declared a pre-tax profit of approximately US$307.8 million for the year 2024. This reflects a significant improvement from the previous four years when the airline faced financial challenges.

The company reported a total revenue of US$4.26 billion, achieving a 16.5% increase from 2023. Furthermore, the latest statement indicates that these figures are the highest recorded in recent years.

Highlights

• Q4-2024 Revenue: Nearly US$1.07 billion, representing an 11.5% increase year-on-year.
• The airline successfully maintained a gross profit around US$174.64 million for four consecutive quarters.
• Contributing factors to this turnaround include the full recovery of global flight networks, the launch of new routes, and strategic partnerships with other airlines.
• A noticeable rise in domestic ticket prices in Vietnam during the first half of the year, with some routes experiencing an average increase of up to 20%.

Due to these positive developments, Vietnam Airlines’ executive board plans to put forth a new proposal to shareholders aimed at raising charter capital and revising the restructuring plan for 2025.