Vietnam state-run airport developer ACV has new chairman
Vu The Phiet, CEO of state-controlled Airports Corporation of Vietnam (ACV), has been named chair of the company - the operator of 22 airports across the country.
Phiet will succeed Lai Xuan Thanh, who retired on September 1. He has also been appointed head of the ACV Party Committee.
Vu The Phiet, new chairman of Airports Corporation of Vietnam (ACV), speaks at a ceremony in Ho Chi Minh City, September 6, 2024. Photo courtesy of ACV.
Phiet, 51, started his career in the aviation industry in 1995. He was director of Noi Bai International Airport in Hanoi in 2012-2017 and deputy CEO of ACV in 2017-2018 before becoming CEO of this airport developer in August 2018.
ACV, with 95.4% owned by the government, now runs 22 airports across Vietnam, with 10 being capable of handling international flights.
Under Phiet, ACV will continue to carry out major aviation infrastructure works, including Terminal T3 of Tan Son Nhat International Airport in Ho Chi Minh City and Long Thanh International Airport in Dong Nai province, adjacent to HCMC.
ACV earned a consolidated net profit of VND6,020 billion ($242.14 million) on revenue of VND11,180 billion in H1/2024, up 44.3% and 15.7% year-on-year, respectively.
ACV shares, traded on the UPCoM, ended down 1.2% at VND107,000 ($4.3) apiece, giving the company a market value of VND232.93 trillion ($9.37 billion).
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