HCMC – National flag carrier Vietnam Airlines (HOSE: HVN) posted a 20% rise in revenue in the first half of this year at over VND53.1 trillion, with net profit reaching VND5.48 trillion, according to the firm’s latest earnings report.
In the second quarter, Vietnam Airlines incurred a loss of VND282 billion, down from a loss of VND1.01 trillion a year earlier. However, consolidated after-tax profit for the quarter was VND1.03 trillion, compared to a loss of VND1.35 trillion in the same period last year.
The company attributed the reduction in losses to a 24.7% increase in total revenue and other income streams compared to the second quarter of last year. The revenue increase at VND3.82 trillion resulted from the full resumption of domestic routes and most international routes, along with the opening of new ones.
Vietnam Airlines’ consolidated after-tax profit in the second quarter was driven by reduced losses at the company and profitable operations of its subsidiaries. Other consolidated incomes surged due to Pacific Airlines, a subsidiary of Vietnam Airlines, having its debts written off by a partner under an aircraft return agreement.
The airline transported 11.5 million passengers and 143,000 tons of cargo in the first half of 2024, up 10% and 42.1% over the same period in 2023, respectively.
However, a severe shortage of aircraft has significantly impacted the growth of revenue and profit. Vietnam’s aviation sector had 230 aircraft before the pandemic, but this number has dropped to 160, a 32% reduction, due to global supply chain disruptions. This shortage has led to higher leasing costs, increased maintenance expenses, and prolonged aircraft ground time, negatively affecting the airline’s revenue.
Closing the trading session today, August 6, HVN shares soared by 6.57% over the previous session to VND21,900 per share, with a trading volume of nearly 3.5 million shares.
Vietnam’s benchmark VN-Index added 22.21 points, or 1.87% from the session earlier, to close at 1,210.28 points on Tuesday, with broad gains across the board. The Hochiminh Stock Exchange saw 383 advancers and 58 decliners.
Stock trade dropped by 33% in volume and 31% in value against yesterday’s session, with 688.8 million shares worth VND16.36 trillion changing hands. Block deals accounted for over 76 million shares valued at VND2.51 trillion.
Bluechips stocks were market drivers today. All stocks in the VN30 basket, except for TCB and VIC staying at reference prices, were gainers. The VN30-Index jumped 20.7 points, or 1.68%, to 1,252.81 points.
BCM gained 5.2%, the highest among the 30 largest-cap stocks, to VND71,000, while VNM, STB and GVR advanced over 4%.
Steel stock HPG continued to take the lead by liquidity on the southern market with a trading volume of more than 19.7 million shares. It inched up 1.35% to VND26,300 per share.
Mid and small-cap stocks performed well, especially in the securities sector. BSI hit the ceiling price, rising to VND46,300. FTS climbed 6.7% to VND39,600, while many others improved between 2.8% to around 5.5%.
Real estate, construction, materials, and services stocks also made gains, with multiple stocks in these sectors soaring to their daily upper limits or rising between 5% and 6.5%.
On the Hanoi Stock Exchange, 128 stocks advanced and 56 others dipped. The HNX-Index added 3.75 points, or 1.68%, to 226.46 points. Trading volume on the northern market reached over 57.4 million shares valued at VND1.04 trillion.
