Vietnam Airlines spends over VND1.4 trillion on dividend payments

14-May-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

Vietnam Airlines has decided to spend more than VND1.4 trillion (nearly $60 million) paying a 10 percent cash dividend for 2018, the local media reported.

The State, which owns 86 percent of the airline’s charter capital, will receive some VND1.22 trillion. Major shareholder ANA Holdings Inc. of Japan, which holds 8.8%, will receive VND124 billion.

At its annual shareholder meeting on May 10, Vietnam Airlines announced its business performance for last year.

Its consolidated revenue hit a record high of nearly VND99 trillion, while its consolidated pre-tax profit reached VND3.3 trillion, exceeding the target by 36.8%.

Vietnam Airlines’ shareholders approved a target to transport more than 24.9 million passengers this year. The consolidated revenue and pre-tax profit are expected to reach over VND111.7 trillion and VND3.4 trillion, up 13 percent and 6 percent year-on-year, respectively.

Vietnam Airlines Chair Pham Ngoc Minh said that despite the challenges of the local aviation market, Vietnam Airlines would strive to cement its position in the aviation sector and the business community.

The carrier pledged to continue ensuring the safety of its flights, while upgrading its fleet and improving its governance capacity, Minh added.

This year, the airline has set a target of grabbing at least 55 percent of the domestic aviation market.

Vietnam Airlines’ shareholders also passed a plan to develop its fleet in the 2021-2025 period, as well as another plan to buy 50 narrow-body planes in the same period, helping the air carrier move toward its target of becoming a five-star airline.

https://english.thesaigontimes.vn/68256/vietnam-airlines-spends-over-vnd14 trillion-on-dividend-payments.html

 


Category: Business, Vietnam

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