Major airlines in Vietnam posted profits in the first quarter after incurring losses since the Covid-19 pandemic.
National flag carrier Vietnam Airlines recorded revenue from air transport of over VND23.6 trillion ($995 million) in the first quarter; double the figure in the same period last year and the highest since the beginning of 2020 and close to pre-pandemic levels.
It posted consolidated pre-tax profit of VND19.3 billion ($817,800) in the period, compared to a loss of VND2.6 trillion ($109 million) in the same period last year.
Meanwhile, Vietjet Air earned turnover of nearly VND12.9 trillion ($543 million) from air transport in the first quarter and after-tax profit of VND168 billion ($7 million), a year-on-year increase of 286 per cent and 320 per cent, respectively.
Growth is attributed to an increase in flight frequency, the opening of new international routes, and falling exchange rates and loan interest rates.
Following the strong recovery in the air transport sector in 2022, the air transport market bounced back strongly during the Tet (Lunar New Year) holiday and the National Reunification and May Day holidays from April 28 to May 3.
Airports nationwide served nearly 37 million passengers in the first four months of the year, a year-on-year rise of 55 per cent. Domestic airlines transported 18.2 million passengers during the period, up 56 per cent against the same period last year.
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