In 2024, Vietnam Airlines aims to balance revenue and expenditure.

Vietnam Airlines Corporation recorded consolidated revenue in 2023 of VND93,265 billion, nearly 30% higher than the same period last year and approaching the peak in 2019.

Vietnam Airlines restores international flight network equivalent to 90% compared to 2019.

At the shareholders' meeting held on June 21, 2024, Mr. Dang Ngoc Hoa, Chairman of the Board of Directors of Vietnam Airlines Corporation, said that the most difficult period of the aviation industry has passed, and the business prospects of the Corporation are assessed to be more positive in the coming time. In 2023, Vietnam Airlines Group transported more than 24.1 million passengers and 230,000 tons of cargo, up 16.4% and 5.8% respectively over the same period. Positive operating results helped Vietnam Airlines achieve VND 93,265 billion in consolidated revenue, nearly 30% higher than the same period in 2022 and approaching the peak in 2019. The consolidated loss before tax decreased by VND 5,583 billion, half of that in 2022. To achieve the above results, Vietnam Airlines has proactively implemented synchronous self-solutions, closely following market developments. To date, the airline has restored its international flight network to 90% of that of 2019, opening new routes such as Hanoi/Ho Chi Minh City-Mumbai, Hanoi-Melbourne, Ho Chi Minh City-Perth. The domestic flight network continues to operate with the number of restored routes equivalent to the period before the Covid-19 pandemic. In addition, Vietnam Airlines focuses on cost management and thorough savings. In addition to reducing costs according to production scale, the Corporation has implemented cost savings, negotiated price reductions, deferred payments... helping to cut costs with an estimated amount of more than VND 3,200 billion; proactively restructured loans, flexibly used short-term loans. With the specific business activities in the field of service provision, Vietnam Airlines has promoted the strategy of improving services, increasing the application of new technologies and software in many work processes and service touch points. These solutions not only help the airline boost productivity but also improve passenger satisfaction. Thanks to that, in 2023, the customer satisfaction index (CSI) grew beyond the target with domestic CSI reaching 4.17 points and international CSI reaching 4.0 points. Reporting at the conference on the 2024 production and business plan, Mr. Le Hong Ha, General Director of Vietnam Airlines, said that the domestic aviation market is forecast to grow by 6% -8%, the airline focuses on preparing to invest in narrow-body aircraft projects, A321ceo aircraft configuration conversion projects to improve operational efficiency, meet market demand and develop on the basis of being consistent with the fleet restructuring orientation. Regarding services, the airline aims for 5-star standards, expanding the "Service Enhancement" program to inspire and promote initiatives. At the same time, the airline designs excellent experiences on key routes, improves work processes, and applies digital transformation to improve management efficiency and customer experience. Vietnam Airlines also aims to continue restructuring to overcome the consequences of the Covid-19 pandemic and create a foundation for sustainable development; focus on completing divestment in a number of member companies and submitting to competent authorities a plan to extend the repayment of refinancing loans; at the same time, promote organizational restructuring, reduce intermediary levels, invest in technology and digital transformation to improve labor productivity and quality of resources. Based on forecasts of the business environment, Vietnam Airlines has developed key goals, directions, and tasks for 2024. In particular, it focuses on implementing the Enterprise Restructuring Project with the goal of reducing remaining losses, moving towards balancing revenue and expenditure in 2024.

TO HA

Source: https://nhandan.vn/nam-2024-vietnam-airlines-dat-muc-tieu-can-doi-thu-chi-post815445.html