Vietjet’s fleet can save fuel between 15-20 per cent. — Photo courtesy of Vietjet

Vietjet Aviation Joint Stock Company (HOSE: VJC) reported outstanding business performances in Q1/2024, providing a strong boost for the entire year.

In Q1, Vietjet’s air transport revenue was recorded at VNĐ17.76 trillion (US$701 million) while after-tax profit at VNĐ520 billion ($20.5 million), increasing by 38 per cent and 209 per cent year-on-year respectively.

The airline’s consolidated revenue and after-tax profit stood at VNĐ17.79 trillion and VNĐ539 billion respectively, marking yearly rises of 38 per cent and 212 per cent.

During the first three months of the year, Vietjet operated nearly 34,500 flights with more than 6.3 million passengers onboard. The airline's average load factor rate reached 87 per cent and the technical reliability rate 99.6 per cent.

Advancing its strategy to expand internationally, Vietjet’s international passenger transport in Q1 witnessed growths of over 53 per cent and 61 per cent year-on-year in terms of numbers of flights and passengers respectively.

Despite the challenges faced by the aviation industry due to aircraft shortages, Vietjet maintained its development momentum from 2023 and continued to open new international routes which would set a strong growth in motion for the entire year.

As of March 31, 2024, Vietjet's total assets mounted to more than VNĐ85.82 trillion. Its debt-to-equity ratio was at 1.9 and the liquidity ratio at 1.3, which were both within good ranges of the aviation industry. — VNS