Vietjet Air targets US$1.8 billion in 2017 revenueFriday, April 21,2017
The low-cost carrier Vietjet Air targets revenue of VND42 trillion (about US$1.8 billion) in 2017, with pre-tax profit of over VND3.6 trillion (US$158.4 million) with 50% of dividend.
The information was released at the firm’s shareholders’ meeting in Hanoi on April 20, during which leaders of Vietjet Air said that the carrier will operate 51 airplanes for over 98,100 flights carrying about 17 million passengers in the whole year.
At the same time, Vietjet will also increase its air routes to 78, including 37 international ones.
Luu Duc Khanh, CEO of Vietjet, said that after five yearsof operation, Vietjet transported over 34 million passengers and more than 158,100 tonnes of cargo through nearly 204,400 flights on around 60 domestic and international routes.
Vietjet increased itscapital from VND600 billion in 2012 to VND3,000 billion in 2016, while raising the equity capital to over VND4.7 trillion (US$210.5 million). It enjoyed an annual growth of over 70% in passenger transport revenues in the 2012-2016 period.
Last year, Vietjet earned revenue of VND27.5 trillion and pre-tax profit of over VND2.7 trillion.
At the meeting, stakeholders agreed to raise the ratio of foreign investors’ share from 30% to 49%, thus improving the liquidity of its transactions.
They also approved a list of six candidates for seats in the Board of Directors.