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Billionaire Phuong Thao gets VND200 million in wages from Vietjet

Nguyen Thi Phuong Thao, the only female dollar billionaire in Vietnam recognized by Forbes, receives VND221 million in salary each month.
Vietjet CEO Nguyen Thi Phuong Thao

Vietjet’s Q3 consolidated finance report shows that the company pays VND1.5 billion to members of the board of management, and VND3.5 billion to the board of directors and accountants. As such, each member of the board of management receives VND101 million a month, while each member of the board of directors and accountant receive VND120 million.

Thao holds two important posts in Vietjet’s leadership – permanent vice president and CEO. She receives VND221 million a month.

Vietjet’s Q3 business results show that the air carrier had revenue of VND11.6 trillion, or 4.4 times higher than the same period in 2021.

In Q3, its revenue from financial activities reached VND208 billion, while the figure was just VND21 billion the same period last year, and the financial costs were VND235 billion, down by 21 percent. Sale costs increased by 20 percent to VND143 billion and corporate management costs were VND139 billion, up by 128 percent.

In Q3, Vietjet made a net profit of VND43 billion, lower than the VND73 billion of the same period last year.

In the first nine months of the year, the total number of flights and passengers of Vietjet was 87,700 and 15.4 million, respectively, increasing by 150 percent and 225 percent compared with the same period last year. 

The air carrier reported revenue of VND27.535 trillion, or 2.7 times higher, and profit of VND187 billion.

Vietnam Airlines also reported a surge in revenue in Q3, which was 4.5 times higher than Q3 2021, to VND21.267 trillion. In the first nine months of the year, revenue surged from VND18.88 trillion to VND51.387 trillion.

The national flag air carrier has reported one more quarter of taking losses, but the loss was much lower than the same period last year, VND2.5 trillion, compared to VND3.5 trillion.

In the first nine months of 2022, it incurred a loss of VND7.78 trillion, lower than the VND12.15 trillion of the same period last year.

Vietnam Airlines took a loss in Q3 because of high cost prices (air fuel) and other costs, such as financial costs, sale costs and management costs.

According to Vietnam Airlines, remuneration and salary paid to management in the first nine months of the year was equal to 79.4 percent of the entire year of 2021. The average pay to each member of the three boards was VND60 million.

The total remuneration and salary paid to the three boards in the first nine months of the year was VND6.3 billion, higher than the VND3.57 billion paid in the same period last year. 

Manh Ha

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