Vietnam Airlines Aims for $7B Annual Revenues by 2020
Vietnam Airlines plans to fly to more destinations and increase its total fleet to 163 in an effort to gain annual revenues of $7 billion from now to 2020.
The company targets to occupy 45% of the country’s aviation market share by 2020.
The new aircraft, including Boeing 787s or Airbus 350s, would be capable of carrying 35 million passengers and 620,000 tones of cargos per year by 2020, Vietnam Airlines announced recently.
Last year, the airline carried 12.3 million passengers including 4.3 million foreign passengers for revenues of VND36.265 trillion ($1.86 billion), rising 33.7% on year. Its profit surged 164% from 2009 to VND356 billion ($18.3 million).
After 15 years of operation, Vietnam Airlines had carried out a total 678,550 domestic and international flights, holding 87% of the domestic market share and 40% of the international market share, Vietnam Airlines’ General Director Pham Ngoc Minh said.
It had carried 82 million passengers in the past 15 years, with an annual growth for the domestic and international market of 12.1%, a Vietnam Airlines’ report showed.
Vietnam Airlines will add more than 583 flights to meet rising travel demand of Vietnamese people during the Lunar New Year holiday 2011, or Tet. (Vneconomy)
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