Tuesday, February 27,2024 - 11:55 GMT+7  Việt Nam EngLish 

In the 6-month review report, Vietjet (VJC) is profitable and continues to develop strongly its international routes 

 Monday, September 11,2023

AsemconnectVietnam - Promoting the domestic market, pioneering the strong development of the international market with: India, Australia, Kazakhstan, Indonesia, Vietjet Aviation Joint Stock Company (HOSE: VJC) announced the semi-annual financial report after the audit in 2023 with very positive numbers.

In the first 6 months of 2023, Vietjet safely operated 65.9 thousand flights, transporting over 12.1 million passengers, of which 3.5 million were international passengers, an increase of 26% and 30% compared to same period. Its flights achieved a high average seat occupancy rate of over 85% and technical reliability of 99.63%. Total cargo volume transported by Vietjet reached 33,000 tons, up nearly 40% over the same period.
Vietjet's fleet has 103 aircraft including the Thai Vietjet fleet, 3 new aircraft are being delivered.
Vietjet recorded air transportation revenue and consolidated revenue reaching VND25.1 trillion and VND29.5 trillion, up 69% and 85% respectively over the same period. The ancillary revenue segment maintained high growth, reaching nearly VND9,000 billion, twice as much as the same period and contributing 40% of total revenue. Individual and consolidated profit after tax reached VND48 billion and VND137 billion respectively, lower than the pre-review report due to increased marketing and advertising costs to expand international routes and delayed recognition of aircraft financial trade revenue.
In the first six months of 2023, Vietjet continues to grow and become profitable thanks to its sustainable business strategy, which pioneers the development of the international flight network, continuously innovates and enhances products and ancillary services that can High profit margin, new fleet ownership and large aircraft orders with Airbus and Boeing bring commercial income in terms of operational efficiency.
Vietjet has opened 11 new international routes in the second quarter of 2023 to Australia, Indonesia and India, bringing the total number of routes to 120 routes (45 domestic routes, 75 international routes).
Vietjet has pioneered exploiting the Indian market with 7 routes connecting Hanoi, Ho Chi Minh City with Mumbai, Dehli, Ahmedabad and Kochi, bringing passengers to Vietnamese cities.
From mid-April 2023, the airline has opened 3 consecutive direct flights from Australia's largest cities Sydney, Melbourne, Brisbane to Ho Chi Minh City with flights always full of passengers.
Within the framework of the Vietnam - Indonesia Policy and Law Forum to promote economic, trade and investment cooperation, Vietjet launched a direct flight connecting Ho Chi Minh City with the capital Jakarta (Indonesia) in August. /2023.
In the first 6 months of the year, there were 14.6 million international passengers to Vietnam via air, Vietnam's airlines transported 6.9 million passengers, of which Vietjet contributed 50%, transporting 3.5 million international visitors to Vietnam, actively supporting international tourism and investment. Vietjet's international routes have contributed to promoting the development of tourism, trade and bilateral investment, contributing to the economic recovery and development of countries.
In the first six months of the year, Vietjet launched Business class, diverse products and services such as "Fly first - Pay later", travel credit cards, free travel insurance, and duty-free shopping on flights. . Among them, the SkyJoy loyalty program currently has nearly 9 million members. In addition to optimized flight fuel costs thanks to the new fleet of aircraft, the decrease in flight fuel prices by about 40% over the same period has helped Vietjet maintain good efficiency.
As of June 30, 2023, Vietjet's total assets reached more than VND71.2 trillion, debt/equity ratio of 1.2 times and liquidity index of 1.5 times are at a good level in the air industry.
The balance of cash and cash equivalents as of June 30, 2023 reached VND2,165 billion, plus a working capital limit to ensure quick solvency of the company. Vietjet has contributed direct and indirect taxes and fees to the budget in the first 6 months of 2023 of VND2,795 billion.
Notably, Vietjet has received a credit rating of BB+ with Stable outlook (VnBB+) from Saigon Ratings. Saigon Ratings assesses that Vietjet has the flexibility to exploit many different revenue sources outside of its main business activities, thereby helping the airline maintain positive profits during the Covid-19 epidemic.
Contributing to the community, Vietjet maintains free or low-cost flights to serve workers, workers traveling to production and creating conditions for those who have never been on a plane.
In June 2023, Vietjet continued to affirm its leading position in global low-cost airline flight services with two awards "Low-cost airline with best in-flight service in 2023" and "Low-cost airline with best in-flight service in 2023" World's Best Super-Economy Airline in 2023" voted by AirlineRatings.
Vietjet was also honored by Brand Finance as "Top 100 Most Valuable Brands in Vietnam" in August 2023 and the airline also entered the Top 50 Typical Sustainable Development Enterprises 2023 in the category "Reducing Carbon Footprint".
Vietjet was also honored by Brand Finance as "Top 100 Most Valuable Brands in Vietnam" in August 2023 and the airline also entered the Top 50 Typical Sustainable Development Enterprises 2023 in the category "Reducing Carbon Footprint".
With a large number of passengers, especially international passengers, and positive business results in the first 6 months of the year, it is likely that Vietjet will meet and exceed the 2023 plan, continue to contribute to the recovery and growth of tourism, investment and economics in general.
N.Nga
Source: VITIC/Tinnhanhchungkhoan
 

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