Specifically, tourism airline Vietravel Airlines has just reported positive results this March, exceeding its target with March revenue reaching 172.3 billion VND, an increase of more than 54% compared to the plan.
Thus, for the first time after more than 3 years of operation, Vietravel Airlines has made a profit for 3 consecutive months. Business results in the first quarter of 2024 reached revenue of 491.2 billion, an increase of nearly 42% and net profit of 10.1 billion VND.
Vietravel Airlines reported a profit in the context of high domestic airfares for some routes, even after the peak Tet holiday period, which is different from previous years.
One of the main reasons is that the A321 aircraft of Vietnam Airlines and Vietjet Air have to stop operating for maintenance, causing a decrease in supply capacity. Combined with the temporary suspension of Pacific Airlines and the narrowing of Bamboo Airways' operations, the customer market share will expand for the remaining airlines.
Given the current domestic aviation business situation, Vietravel Airlines has increased the frequency of some flights such as: Ho Chi Minh City - Da Nang (3 round trips/day), Ho Chi Minh City - Hanoi (5 round trips/day), Hanoi - Da Nang (2 round trips/day).
The airline is also expanding its flight network, increasing the frequency of domestic and international flights. The airline is operating charter flights in a series of charter flights with Vietravel, connecting destinations such as Ho Chi Minh City - Takamatsu (Japan); Da Nang - Fukushima (Japan) and vice versa.
Vietravel Airlines' plan for April is to continue to make a profit to maintain growth momentum, provided that operations are carried out as planned. The airline's target for the second quarter is to achieve an expected revenue of VND1,049 billion.
Currently, Vietravel Airlines is operating 3 A321 aircraft.
In 2024, the airline aims to optimize passenger revenue by promoting the sale of additional products (utility packages, seats, hot meals, items imbued with Vietnamese cultural identity, etc.).
In the first two months of 2024, revenue from the airline's supplementary products was 147% compared to the same period in 2023 (equivalent to 47% growth), of which revenue from utility packages and checked baggage accounted for over 85%.
Up to this point, only Vietravel Airlines has announced its business results for the first quarter of 2024.
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