Monday, March 4,2024 - 15:43 GMT+7  Việt Nam EngLish 

Vietjet (VJC) achieves revenue of VND62,500 billion in 2023 

 Saturday, February 17,2024

AsemconnectVietnam - Pioneering in expanding the international flight network, promoting the recovery and development of domestic and regional tourism, investment, and trade, Vietjet Aviation Joint Stock Company (HOSE: VJC) announced its 2023 business results increased sharply.

Pioneer in opening international flights
In 2023, Vietjet will safely operate 133 thousand flights, transporting 25.3 million passengers (excluding Vietjet Thailand), of which more than 7.6 million international passengers, an increase of 183% compared to 2022.
In order to meet the increasing demand for passenger transport and expand the aviation market, in 2023, Vietjet continues to focus on developing its flight network with 33 newly opened international and domestic routes, increasing the total number of routes. Fly on 125 routes, including 80 international routes and 45 domestic routes.
Notable routes are Ho Chi Minh City - Shanghai (China), Ho Chi Minh City - Vientiane (Laos), Hanoi - Siem Reap (Cambodia), Hanoi - Hong Kong (China), Phu Quoc - Taiwan North (Taiwan, China), Phu Quoc – Busan (South Korea) …
Vietjet became the first airline to have flights connecting Vietnam with Australia's 5 largest cities, including Sydney, Melbourne, Perth, Adelaide, and Brisbane. The airline is also the airline that operates the most flights between Vietnam and India, including flights from Vietnam to the cities of Delhi, Mumbai, Ahmedabad, Kochi and Tiruchirappalli.
The airline's flights achieve an average seat utilization ratio of 87% and technical reliability of 99.72%. The total output of transported goods reached 81.5 thousand tons, an increase of 73% over the same period.
The airline also launched the SkyJoy program for loyal customers globally, allowing rewards to be redeemed with more than 250 brands, reaching 10 million members in 2023.
The "fly now, pay later" service helps passengers receive financial support for flights.
Vietjet's Galaxy Pay payment gateway has ensured safe and convenient payment with many different forms of payment. Vietjet is also the leading airline in payment via Apple Pay.
In addition, Vietjet passengers also have more convenience in performing online check-in procedures from 18 airports nationwide.
Revenue increased sharply compared to the previous year
Vietjet's 2023 business results report recorded revenue of VND53.6 trillion (individually) and VND62.5 trillion (consolidated), an increase of 62% and 56% respectively compared to 2022. Profit Individual and consolidated after-tax profit in 2023 will reach VND697 billion and VND344 billion, respectively.
In the fourth quarter of 2023 alone, individual and consolidated revenue reached VND14.9 and VND18.8 trillion, respectively, an increase of 89% and 49% respectively compared to 2022, individual and consolidated profit after tax reached VND70 billion and VND152 billion respectively.
Ancillary revenue and cargo transportation reached VND18.9 trillion, a strong growth of 46% compared to 2022, contributing 40% of total air transportation revenue.
As of December 31, 2023, Vietjet's total assets reached more than VND84.6 trillion, an increase of nearly 25% compared to the beginning of the year, due to Vietjet investing in aircraft with 3 new generation A321 NEO aircraft. The company's debt/equity ratio is only 2 times compared to the normal level in the world of 3-5 times and the liquidity index is 1.24 times, which is at a good level in the aviation industry.
The balance of cash and cash equivalents as of December 31, 2023 reached VND5,021 billion, more than twice the same period last year, ensuring financial capacity for the airline. Vietjet is also at the forefront of credit ratings according to the direction of the Ministry of Finance. The company achieved VnBBB- credit rating, the highest level among Vietnamese aviation businesses.
In 2023, Vietjet has contributed about VND5,200 billion in direct and indirect taxes and fees to the budget.
Develop a safe, modern and environmentally friendly aircraft fleet
To meet operational needs, Vietjet continuously invests in its fleet with new generation aircraft that are modern, safe, and environmentally friendly. As of December 31, 2023, Vietjet's fleet includes 105 aircraft, including wide-body A330s.
Starting the journey to reduce CO2 emissions more than 10 years ago, when there were only 3 aircraft, by 2023, Vietjet's fleet has grown, making an important contribution to the airline's success by optimizing resources and saving money from 15 - 20% of fuel and especially environmental protection, sustainable development, implementing research and development activities of green technologies...
Contributing to increasing turnover between Vietnam and the United States, in 2023, Vietjet reached an agreement with Boeing to continue the plan to deliver 200 737 MAX aircraft in the next 5 years and aircraft sponsorship agreements with institutions. Foreign finance amounts to billions of US dollars.
Focusing on safety work, in 2023, Vietjet has organized many conferences, training courses, and drills on safety and security such as the Quality Safety Conference; ground mining safety training course according to ISAGO international standards; emergency response drills to proactively respond and ensure absolute security and safety for flight operations.
The airline has also attended world aviation safety and operations forums organized by prestigious organizations such as the International Air Transport Association (IATA) to participate in in-depth topics on aviation safety. .
Vietjet continues to be honored by AirlineRatings, a prestigious unit specializing in evaluating world aviation safety and services, as one of the safest low-cost airlines in the world.
In 2023, Vietjet has put into operation the aircraft maintenance technical center meeting international standards, a cooperation between Vietjet and Lao Airlines in Vientiane (Laos). Thus, in addition to being proactive in ground service work, Vietjet has begun to be proactive in aircraft technical repair and maintenance work.
With the strategy and vision of building and developing international standard aviation human resources, Vietjet Aviation Academy (VJAA) has become a training partner of the International Air Transport Association (IATA).
In 2023, VJAA has trained more than 97 thousand students with 6,300 courses; proactively train pilots and specialized technical staff (CRS) to meet technical needs. The academy has also put into operation simulation cockpit No. 3, becoming the leading international pilot training center in the region.
Vietjet's ground service operator operates effectively, improving the quality of ground service operations and reducing operating costs at Noi Bai international airport.
Strongly contributing to the development of tourism, investment, trade, and cultural exchange, in 2023, Vietjet achieved the highest results ever in terms of international flight network development and air transport revenue also reached its highest level ever.
Source: VITIC/Tinnhanhchungkhoan


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