The award is given to the airline that has stand-out strategies during the year, and the greatest impact on the development of the airline industry in the region as well as establishing itself as a leader and providing a benchmark for others to follow.
According to CAPA, Vietnam Airlines was selected for its rapid growth, impressive financial figures and successful partial privatization. The carrier saw a high air passenger growth of 19 percent in 2016, making it the fastest growing national carrier in Southeast Asia and one of the fastest growing carriers in the world.
Vietnam Airlines is one of the four airlines in Southeast Asia that carried more than 20 million annual passengers in 2016. The airline has announced the results of its business performance in the first 9 months of 2017 with the total revenue of over VND2,300 billion, exceeding 40 percent of the target for whole year.
The carrier is one of the first state owned enterprises in Vietnam to partially privatize, finding a partner for business. Under the signing of a Memorandum of Understanding in January 2016 between the two companies, Japan’s All Nippon Airways Holdings acquired a 8.77% stake in Vietnam Airlines in 2016 as part of a new strategic partnership.