Vietjet posts positive business performance in H1

Saturday, Aug 03, 2019 07:25

Passengers board a Vietjet flight. — Photo Saigoneer
Vietjet’s revenue from air transport saw a yearly increase of 22 per cent to more than VND20.14 trillion (US$865 million) in the first half of this year, according to the airline’s business results released on Friday.

The proportion of international revenue surpassed domestic revenue, reaching 54 per cent of total air transport revenue thanks to a significant increase of 35 per cent in the number of passengers on international routes at approximately four million.

At the same time, the airline's ancillary and cargo revenue topped VND5.47 trillion, mainly thanks to the contribution from the growth of international routes, according to Vietjet.

As per the data, Vietjet saw a year-on-year rise of 16 per cent in its six month pre-tax profit to above VND1.56 trillion ($67 million).

From January to June, Vietjet’s equity reached VND15.62 trillion, surging 32 per cent over the same period last year. Its total assets were VND44.46 trillion, up 30 per cent year on year, including VND21.95 trillion long-term assets, accounting for 49 per cent of total assets.

In the first half of 2019, Vietjet operated more than 68,820 flights, equivalent to 45 per cent of total flights operating by all Vietnamese carriers, and transported 13.5 million passengers. These figures helped the airline maintain the leading position in domestic transportation with a 44 per cent market share.

It has opened nine international routes to Japan, Hong Kong, Indonesia, mainland China and three domestic routes, lifting the total number to 120 routes, including 78 international routes and 42 domestic ones.

With positive business results, regional and a worldwide flight network expansion plan, together with the ability to manage costs, operation quality, Vietjet expects to maintain positive growth in the next three years, the airline says in a statement.

It will also look for opportunities for investment in infrastructure, terminals, technical services, ground services, training, promoting efficiency, advantages of the airline when expanding to provide aviation services.— VNS

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