Mr. Lai Xuan Thanh has been elected Chairman of the Board of Airports Corporation of Vietnam (ACV) for the 2016-2020 term, replacing the retiring Mr. Nguyen Nguyen Hung, under a decision approved at ACV’s 2017 annual general meeting on June 28.

Mr. Thanh will be the representative of State capital at ACV under the decision. He has been the Head of the Civil Aviation Authority of Vietnam (CAAV) since 2012. 

Born in 1963 in Phu Xuyen district, Hanoi, he is fluent in English and Russian, a Master of State Administration and a Bachelor of International Law, and trained in the former Soviet Union and the Netherlands.

ACV is the monopoly operator of 22 airports throughout Vietnam, of which nine are international and 13 are domestic. It is calling for investment in more airports, to increase the number to 23 by 2020 and 25 by 2030. It plans to list over 2.1 billion shares on the Ho Chi Minh Stock Exchange by the end of this year.

In the first six months of the year, its revenue reached nearly VND7.3 trillion ($321.2 million) and after-tax profit VND2.3 trillion ($101.2 million), equal to 63 per cent of the plan.  

It posted a net profit in 2016 of VND2 trillion ($87 million) on revenue of VND14.5 trillion ($635 million) and aims to increase revenue by 8 per cent and pre-tax profit by 3 per cent every year during the 2017-2020 period. 

Mr. Le Manh Hung, CEO of ACV, told the AGM the dividend for 2016 will be 6 per cent, totaling VND1.3 trillion ($57.2 million), but no schedule for payment has been announced.

In the 2017-2021 period, the corporation targets passenger volumes to grow by 14 per cent a year, with international and domestic passengers to increase 14 per cent and 13 per cent, respectively.

Annual growth in cargo volumes is targeted at 8 per cent, the number of landings 14 per cent, and net sales 8.5 per cent.

VN Economic Times