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ECONOMYTRADE - SERVICE

Vietnam Airlines: Asia Pacific Airline of the Year

Updated at Thursday, 09 Nov 2017, 18:20
The Hanoitimes - CAPA`s Aviation Awards for Excellence are regarded as the pre-eminent awards for strategic excellence in aviation.
From 2003, when the Awards were established, through until 2011 they were limited to Asia Pacific including the Middle East. In 2012 the Awards became global and began including recipients from all regions. In 2014 CAPA started two award events, one covering the global industry and one for Asia Pacific including the Middle East.
 
Vietnam Airlines is the national airline of Vietnam and majority-owned by the Vietnamese government.
Vietnam Airlines is the national airline of Vietnam and majority-owned by the Vietnamese government.
CAPA's Aviation Awards for Excellence are intended to reward airlines and airports that are not only successful but have also provided industry leadership in adjusting to a new environment. At a time of industry upheaval, our winners are adopting strategies that offer new directions for others to take up. The CAPA Awards for Excellence are not driven by customer surveys or sponsorship.
This award is to the airline that has been the biggest standout strategically during the year, has had the greatest impact on the development of the airline industry, has established itself as a leader, and provided a benchmark for others to follow.

Vietnam Airlines was selected for its rapid growth, high level of profitability and successful partial privatization. Vietnam Airlines completed listing shares on Hanoi Stock Exchange under the stock code HVN in January, 2017 becoming one of the first state owned enterprises in Vietnam to partially privatize. In addition to the public float, Japan’s All Nippon Airways Holdings acquired a 8.77% stake in Vietnam Airlines in 2016 as part of a new strategic partnership.
 
Representative of Vietnam Airline received the award from President of CAPA Peter Harbison in Singapore.
Representative of Vietnam Airline received the award from President of CAPA Peter Harbison in Singapore.
Vietnam Airlines has embraced partnerships, also recently forging a joint venture with Air France covering the Vietnam-Europe market, and pursued a successful dual brand model with LCC subsidiary Jetstar Pacific. Jetstar Pacific has accelerated expansion and been used to fend off intensifying competition at the bottom end of the market while the parent airline also has grown rapidly. Vietnam Airlines' passenger traffic was up 19% in 2016, making it the fastest growing flag carrier in Southeast Asia and one of the fastest growing full service airlines globally. Vietnam Airlines became one of only four airlines in Southeast Asia (and one of just two full service airlines) to surpass 20 million annual passengers in 2016.

Vietnam Airlines has been consistently profitable over the past decade. The parent airline reported a record profit before tax of USD73 million in 2016 despite intensifying competition. The group’s profit reached USD114 million in 2016 and exceeded USD100 million in the first three quarters of 2017. Vietnam Airlines has already renewed its wide-body fleet with new A350s and 787s – taking both new types at almost the same time in 2015 – and is committed to renewing its narrow-body fleet from 2018 with A321. "Vietnam is among the fastest growing markets in the world and is attracting much added competition. Vietnam Airlines has emerged as a successful and fast growing full service airline group despite intensifying competition in its home market,” CAPA executive chairman Peter Harbison said. “The group’s dual brand strategy with Jetstar Pacific and pursuit of strategic partnerships have significantly improved its long term position. These strengths helped the airline achieve a highly successful partial privatization in early 2017 while maintaining a high level of profitability. This airline is going from strength to strength!"

Based in Hanoi, Vietnam Airlines is the national airline of Vietnam and majority-owned by the Vietnamese government. Utilizing a fleet of narrow and wide-body Airbus, Boeing, and ATR aircraft, Vietnam Airlines operates an extensive network of domestic and regional services within Southeast and North Asia and international services to Europe and Australia. Vietnam Airlines joined the SkyTeam alliance in 2010. Vietnam Airlines is undergoing a privatization process, with the carrier aiming to secure foreign investors. On July 4, 2016, ANA Holding Inc. completed the purchase of an 8.771% stake, allowing ANA to become a strategic shareholder. Vietnam Airlines stated it will continue to divest the state's shareholdings to 75%, with a further reduction to 65% under the company’s re-structure plan. The state continued the program by listing the airline on the Hanoi Unlisted Public Company Market (UPCoM) under the ticker HVN on January 3, 2017.
Nguyen Tung
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