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HVN - Earnings supported by partial fuel rise pass-through - Earnings Flash

HVN’s consolidated H1 2018 revenue was up 18.6% YoY to VND47.9tn (USD2bn), while NPAT-MI spiked 77.8% YoY to VND1.3tn (USD59mn). Vietnam Airlines’ stand-alone (VNA) H1 2018 revenue and NPAT increased by 13.7% YoY and 105.5% YoY, respectively. The results were driven by strong top-line growth from HVN’s subsidiaries and affiliates, higher financial income coupled with margin expansion from the combined effect of a partial pass-through of higher fuel costs and cost control.