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Thursday, July 25, 2024

Vietnam Airlines sees H1 revenue rebound

The Saigon Times

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HCMC – Vietnam Airlines JSC (HOSE: HVN) reported impressive revenue growth during the first half of the year, given the global market recovery and a surge in passenger numbers,

During a mid-year conference, where the carrier reviewed its performance in the first six months of the year and discussed plans for the rest of 2023, Vietnam Airlines projected consolidated revenue of VND45.255 trillion for this period. This figure represents a 148.9% surge compared to the same period last year and exceeds the target by around VND1 trillion.

In this period, Vietnam Airlines operated 64,300 flights, with a total flying time of 148,270 hours.

The national flag carrier estimated that it had transported around 10.14 million passengers from January to June and around 103,300 tons of cargo, up a significant 23.6% and 91% compared to the year-ago period, respectively.

Despite the impressive revenue recovery, Dang Ngoc Hoa, chairman of the airline, said that there are still several headwinds ahead.

“Half of the year has passed, but the economy has yet to fully recover from the adverse impacts of the Covid-19 pandemic. The ongoing Russia-Ukraine military conflict compounds the situation, resulting in rising fuel prices, runaway inflation, and looming risk of recession in many countries,” he noted.

International air travel maintained its slow pace of recovery, especially for key markets such as China, South Korea, Hong Kong, Taiwan, and Japan.

He highlighted the occurrence of inflation and economic slowdown in several countries worldwide, including the airline’s key markets.

Vietnam’s economic landscape is expected to remain gloomy until the end of the year, which would impact domestic travel demand.

Closing the trading session today, July 7, HVN rose 2.12% from Monday to VND14,450 per share, with over 1.9 million shares being matched.

With 283 advancers and 120 decliners, the VN-Index of the Hochiminh Stock Exchange added 6.5 points, or up 0.58% day-on-day, to 1,132 points.

More than 701.3 million shares worth VND14.6 trillion changed hands on the bourse, surging 25% in volume and 35% in value from the previous session. Over 62.7 million shares were transacted in block deals, contributing VND1.7 trillion to the overall value.

There are 19 bluechips rising and six others dipping in the VN30 basket, helping the VN30-Index gain 4.63 points to 1,128 points.

PLX was the biggest gainer among the largest 30 stocks by market capitalization, with an increase of 5.8%, foolloed by SSI and NVL, with respective gains of 3.1% and 2.1%.

VHM, GAS, and BVH improved from 1.1% to 1.8%, while HPG, MSN, VIC, STB, MWG, VRE, CTG and GVR inched up from 0.2% to 0.8%.

BCM, VNM, SAB, VJC, and BID contracted from 0.1% to 1.1%.

Lender SHB took the lead by liquidity on the southern market with a matching volume of 29.8 million shares, closing up 2.3% to VND13,250 per share.

Securities stocks attracted cash flow. Brokerages VCI and VDS shot up to their daily upper limits of VND39,750 and VND14,450, reporting a matching volume of 10.5 million shares and 2.4 million shares, respectively.

HCM, AGT, VIX, CTS, FTS, and VND rose from 4% to 5.7%. VND was the second most actively traded stock, with more than 28.2 million shares changing hands.

Winners doubled losers by 114 to 58 on the Hanoi bourse, helping the HNX-Index jump to its intraday high of 228.76 points, equivalent to a gain of 2.16 points from the session earlier.

There were 108.2 million shares valued at more than VND1.5 trillion being traded on the northern market.

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