Vietjet Aviation Joint Stock Company has announced a consolidated after-tax profit of VND100 billion (US$4.4 million) in the fourth quarter of 2021, an increase of 46 per cent over the same period in 2020.
Though the aviation industry continued to suffer setbacks due to the pandemic in 2021, it has shown signs of recovery since late last year, thanks to the nationwide vaccination campaign and the implementation of disease prevention regulations to guarantee safe operations and protect the health of the passengers and flight crew, Vietjet said in a statement.
In Q4/2021, Vietjet recorded a year-on-year decreasing air transport revenue at over VND2.78 trillion ($122 million). However, the airline’s consolidated revenues surpassed VND12.99 trillion in 2021.
As of December 31, 2021, Vietjet’s assets totalled nearly VND51.78 trillion. Its debt-to-equity ratio stayed at 0.91 while the liquidity ratio was at 1.63 - all were considered good indicators in the aviation industry.
In 2021, Vietjet operated nearly 42,000 flights across its network, with more than 5.4 million passengers on board.
Last year, the airline also reported a revenue of over VND2.95 trillion in cargo transport, achieving fast growth, with cargo revenue, in particular, rocketing by over 200 per cent year-on-year.
Vietjet optimised the operating cost per flying hour and lowered aircraft renting prices throughout the year.
A Vietjet’s flight attendant. — Photo courtesy of Vietjet
The airline said last year it received support from the Government for the aviation sector, including a 50 per cent fee waiver for landing and taking off, a 50 per cent fee waiver for environmental protection fees on aviation fuel until the end of 2022 and other discounts for airports fees and ground services rates.
In 2021, Vietjet marked the 10th anniversary of its first flight on December 24. After 10 years, Vietjet had transported more than 110 million passengers, realising its mission of developing a widespread flight network across the country, region and beyond. It had also brought about a breakthrough in air services, making aeroplanes a popular means of transportation in Viet Nam and the world.
Vietjet also gained significant achievements in 2021, including retaining its place in the top 10 best and safest low-cost airlines globally by AirlineRatings, a well-known website for airline safety and product rating review.
In terms of strategic partnership, Vietjet co-operated with big international companies to grow its fleet and improve services, moving towards the future goal of becoming a multinational aviation group.
Late last year, the airline welcomed its first wide-body aircraft Airbus A330-300, getting ready for safe and eco-friendly middle and long-range flights which can go as far as 12,000 kilometres.
Meanwhile, the airline also expanded its ground services and pilot training on its own and aimed to offer services to other airlines in the region in 2021.
Joining hands to fight against the pandemic, Vietjet transported tens of thousands of doctors, health staff, soldiers, police officers and disease prevention staff to their work destinations, plus many more flights to deliver vaccines, medical equipment and aid cargo.
A Vietjet representative has said that the airline would keep going for digital transformation projects to introduce more added-value services like wireless internet, shopping, logistics, testing, health services on Vietjet’s website and application.
“As Viet Nam has fully opened to international flights with a robust development of tourism places and resorts nationwide, the aviation sector is forecast to recover and strongly grow again in 2022 and the coming years,” Vietjet said. — VNS