Vietnam Airlines, the national flag carrier, is one of the few airlines in the world to report strong profits for 2008 as other airlines face financial difficulties.
During a press conference, Vietnam Airlines General Director Pham Ngoc Minh said the airline made more than USD 1.56 billion in revenue last year, an increase of 31.3 percent compared to a year ago with pre-tax profits reaching USD 14.1 million

Vietnam Airlines, along with most of the other airlines in the world last year was hit by the global financial slowdown as well as some of the highest petrol prices since the 1970s.

The airline carried about 8.82 million passengers and more than 125,280 tonnes of cargo last year, up by 10.6 and 10 percent, respectively, from the previous year’s figures. According to the carrier’s statistics, it transported more than 24,000 passengers per day last year.

“The actual difficulties mean the passengers market in 2009 is forecast to grow by 6.76 percent while the cargo and packaging market will slip by 11 percent compared to the previous year”, said Minh in Hanoi.

Vietnam Airlines plans to carry more than 9.4 million passengers this year, a year-on-year rise of 7.3 percent, and contribute USD 20.4 million to the state budget. According to the carrier, it spent more capital last year on expanding its fleet, signing contracts to buy 39 planes including Boeing 787-8s, Airbus A 350-900s and A321s. The ATR72-200 fleet will be replaced by a modern fleet of ATR72-500s, to be delivered from June 2009 to May 2010.

Late last year Vietnam Airlines became an official member of “Skyteam”, one of the biggest aviation alliances worldwide, after joining the International Air Transportation Association (IATA).

Joachim Fischer, currently in Hanoi, Vietnam