AsemconnectVietnam - Expanding its international flight network and meeting passenger travel needs through an increasingly modern fleet, Vietjet Aviation Joint Stock Company (HOSE: VJC) has recorded strong growth in revenue and profit in the fourth quarter and the whole year of 2024.

Completing the target of receiving new aircraft, achieving high revenue
According to the Q4/2024 business results report, Vietjet recorded aviation revenue of VND19,776 trillion and after-tax profit of VND167 billion, up 36% and 247% respectively compared to the same period in 2023. In the whole year of 2024, Vietjet's aviation revenue reached VND71,545 billion, and after-tax profit of more than VND1,301 billion, up 33% and 697% respectively compared to 2023.
Business results In the fourth quarter, Vietjet achieved VND19,797 billion in revenue and over VND21.4 billion in profit after tax, up 36% and 8% respectively compared to the same period in 2023. In 2024, sales and service revenue reached VND71,859 billion, and over VND1,426 billion in profit after tax, up 23% and 516% respectively compared to 2023.
In 2024, Vietjet transported more than 25.9 million passengers on 137,000 flights; operated a total of 145 routes, including 44 domestic routes and 101 international routes. Vietjet is already the airline with the largest number of passengers transported in Vietnam.
Vietjet has completed its target of receiving 10 new aircraft in 2024, bringing the total fleet to 94, with the youngest aircraft age in the region. The airline's flights achieved an average seat utilization rate of 87% and a technical reliability of 99.72%.
As of December 31, 2024, Vietjet's total assets reached nearly VND99,500 billion, with a debt/equity ratio of 2.12 times and a liquidity ratio of 1.71 times, which is at a safe level in the aviation industry.
The balance of cash, bank deposits and cash equivalents reached more than VND7.7 trillion, plus the working capital limit, ensuring the company's solvency.
Vietjet has contributed more than VND7.5 trillion in direct and indirect taxes and fees in 2024.
Promoting international flight network expansion
The positive business results above reflect Vietjet's strategy of promoting international flight network expansion in addition to maintaining a stable domestic flight network to explore new markets, strengthen Vietnam's connection with countries in and outside the region, contributing to promoting tourism, trade and investment between the parties.
In the fourth quarter of 2024, Vietjet launched direct flights from Da Nang to Ahmedabad (India), Xi'an (China) to Ho Chi Minh City, increasing the frequency of direct flights between Ho Chi Minh City and Perth (Australia) and many other destinations in the region such as Korea, Japan, Hong Kong (China) ...
Vietjet also signed a cooperation agreement with Emirates to expand connections between major cities in Vietnam and Dubai, UAE, as well as global destinations. In addition, the airline continuously announced new direct flights to Hyderabad and Bangalore (India), Beijing and Hangzhou (China), connecting deeply with two potential billion-people markets.
Vietjet has always been a pioneer and maintained research and development activities towards the goals of reducing emissions, green transformation and sustainable development ESG, the CFM LEAP engine line reduces fuel consumption and CO2 emissions by 15% to 20% lower than previous generation engines.
Continuously investing in new aviation technology solutions and services, to ensure the highest standards of safety and quality, Vietjet and CFM International have reaffirmed their commitment to orders to supply more than 400 LEAP-1B engines and technical maintenance services for the airline's narrow-body aircraft worth USD8 billion. Vietjet has also signed an agreement with Castlelake to arrange a long-term financial lease loan worth USD560 million.
New milestone from Vietnam - US flight
Entering 2025, Vietjet marked an important milestone on its development journey by operating the first flight from Vietnam to the US. During the trip, cooperation worth about 14 billion USD between Vietjet and strategic partners in the United States was discussed in a positive spirit, following other strategic agreements of Vietjet with leading corporations such as Boeing, GE, CFM, Pratt & Whitney, Honeywell… with a total value of nearly USD50 billion. It is expected that Vietjet will receive the first 14 737 Max aircraft out of 200 aircraft ordered with Boeing, helping to significantly increase the airline's transport capacity, meeting the increasing travel needs of people at home and abroad.
The airline is also actively negotiating with SpaceX and a number of in-flight Internet technology solution providers to serve its fleet of hundreds of aircraft, constantly innovating, improving service quality, and updating digital trends in the era of innovation.
By 2025, the airline aims to maintain its pioneering position connecting Vietnam with the world through an increasingly expanding international flight network, contributing to promoting trade, investment, cultural and human exchanges between Vietnam and countries in and outside the region. At the same time, aiming to become a green airline, leading in technology, Vietjet will continue to promote activities associated with sustainable development, contributing to the economies of countries, and being responsible to society and the community.
N.Nga
Source: VITIC/Tinnhanhchungkhoan