Sunday, April 21,2019 - 17:42 GMT+7  Việt Nam EngLish 

Vietjet’s core business rises 49 percent in 2018 

 Saturday, April 13,2019

AsemconnectVietnam - Vietjet Aviation Joint Stock Company has announced its audited financial statements of 2018, which exceeded its annual plan.

Accordingly, 2018 continued to be a year of high and sustainable growth of the new aged carrier Vietjet. Audited business results of 2018 showed its total revenue of 53.57 trillion VND (2.3 billion USD) and 5.81 trillion VND (250.5 million USD) in profit before tax. 

When listing at the beginning of 2017, Vietjet set its growth plan for three years (2017-2018-2019) with the profit after tax target of 2017 and 2018 reaching 7.8 trillion VND (336.3 million USD). The results exceeded expectations when the new aged carrier achieved 10.4 trillion VND profit after tax only in two years.

Vietjet also maintains the ratio of dividend payout at 50 percent per year, including shares and cash dividends as committed upon listing. In 2018, with positive business results, the company expects to pay 55 percent dividend. 

Remarkably, in the context of rising oil prices by 30 percent, air transport revenue reached to 33.78 trillion VND (1.45 billion USD) and air transport profit before tax was 3.04 trillion VND (131.2 million USD), increasing respectively by 49.8 percent and 48.9 percent over the previous year, which showed the company’s ability to grow revenue and its good cost management. It can be seen that Vietjet’s strong growth in 2018 comes from its core business of air transport services. 

Ancillary revenue which has a high profit margin was 8.41 trillion VND, an increase of 53.5 percent year on year. The proportion of this segment in total revenue has also increased from 24.5 percent in 2017 to 25.4 percent in 2018. 

By December 31t, 2018, its total consolidated assets were 39.08 trillion VND (1.68 billion USD), an increase of 23.5 percent year on year; equity was 14.03 trillion VND (605.2 million USD), up 32.5 percent year on year.

Vietjet has beeen leading the domestic market in terms of transported passengers and developing strongly international flight network, operated 118,923 flights on 105 routes, including 39 domestic and 66 international ones, covering destinations in Vietnam and Japan, Hong Kong (China), Singapore, the Republic of Korea and Taiwan (China), Thailand, Myanmar, Malaysia, Cambodia, China. Vietjet’s aircraft also operate at Dubai and Doha airports. 

The international network expansion strategy of Vietjet was highly promoted in order to increase the foreign currency collection from ticket sales and to take advantage of lower fuel price at international markets. The proportion of international revenue surpassed domestic revenue and reached 48 percent of total air transport revenue. 

In 2018, Vietjet began to receive and operate the new generation A321neo aircraft which could save up to 16 percent fuel cost, contributing to decrease Vietjet operating costs in the coming years. Vietjet's fleet as at December 31, 2018 was one of the youngest over the world with just an average of 2.82 years old. 

Vietjet also has been successfully qualified with "IOSA International Air Safety" 3rd certificate in September 2018. Vietjet's safety-operating indicators have been among the leading airlines in the Asia-Pacific region and awarded the highest ranking for safety with 7-stars in 2018 by the world’s only safety and product rating website AirlineRatings.com.

Investing to sustainable development of the airline, in 2018, Vietjet Aviation Academy completed and its flight simulator complex (SIM) in partnership with Airbus were approved by European Aviation Safety Agency - EASA, certifying European standards - the world's leading aviation standards. At the beginning of November 2018, on the occasion of the official visit of French Prime Minister to Vietnam, Vietjet launched the Aviation Academy.

Until the end of last year, SIM provided approximately 1.000 training hours. The Academy conducted 924 courses for 21.611 trainees, including 157 pilot training courses, 127 cabin crew training courses and 128 engineer training ones.

Besides, Vietjet was granted many prestigious awards in 2018 including Labor Medal, Vietnam's top 50 listed companies and top 40 most valuable brands of Forbes Magazine, Top 50 airlines for healthy financing and operations of AirFinance Journal, Top 50 largest taxpayers in Vietnam, 50 best performing companies, Top 100 best working places in Vietnam, Asian best flight attendant wardrobe...

Vietjet's continuous and sustainable development in the past few years and business results exceeding the 2018 plan continue to bring values, efficiency to investors, create momentum to fulfill the mission of offering flying opportunities to everyone, becoming the regional and international airline.

Vietjet is the first airline in Vietnam to operate as a new-age airline offering flexible, cost-saving ticket fares and diversified services to meet customers’ demands. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers. Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. Vietjet was named “Best Ultra Low-Cost Airline 2018 - 2019” and awarded the highest ranking for safety with 7 stars in 2018 by the world’s only safety and product rating website AirlineRatings.com. The airline has also been listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in 2018.

Currently, Vietjet operates around 400 flights daily, carrying more than 70 million passengers to date, with 113 routes covering destinations across Vietnam and international destinations such as Japan, Hong Kong, Singapore, the Republic of Korea, Taiwan, mainland China, Thailand, Myanmar, Malaysia and Cambodia.
Source: Vov.vn 

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