Vietnam Airlines Group kept profits stable in 2018 despite higher fuel costs, and the carrier plans to take delivery of more new-generation widebody and narrowbody aircraft in 2019.

The group reported a pre-tax profit of VND2.8 trillion ($121 million), about the same as in 2017. Revenue rose to VND102 trillion compared with VND88.4 trillion in the previous year. Operating profit margin was 4.38%.

The group includes parent carrier Vietnam Airlines as well as regional subsidiary VASCO and LCC Jetstar Pacific. For the parent carrier alone, pre-tax profit increased to more than VND2 trillion from VND1.85 trillion in 2017.

Vietnam Airlines received two Airbus A350s and its first three A321neos in 2018. The airline had been scheduled to take delivery of nine A321neos in 2018, but deliveries were delayed.

The Vietnamese flag carrier expects to receive two more A350s and three Boeing 787-10s in 2019, an airline spokesperson told ATW. More A321neos will also be delivered, but the exact number is yet to be confirmed. The carrier ordered a total of 20 A321neos, all of which were previously expected to be delivered by the end of 2019.

The airline plans to list its shares on the Ho Chi Minh City Stock Exchange in the first quarter of 2019. Its shares are already traded on the country’s unlisted public companies market.

Adrian Schofield, adrian.schofield@informa.com