Vietjet aims at 10% profit growth in 2018

Friday, Apr 27, 2018 11:44

The Annual General Shareholders Meeting 2018 of Vietjet Aviation Joint Stock Company took place with the participation of 91.74 per cent of shareholders and high approval ratings for all issues of meeting. — VNS Photo

Vietjet Aviation Joint Stock Company (VJC – HOSE) has targeted a revenue of VND50.97 trillion (US$2.24 billion) and a profit of VND5.8 trillion ($254.4 million) in 2018.

These figures represent the respective yearly increases of 20.5 per cent and 10 per cent.

These goals were announced at Vietjet’s Annual General Shareholders Meeting held in HCM City on Thursday.

During the meeting, the company’s shareholders also approved an increase in the dividend payment of 2018 to 50 per cent.

At the event, Luu Duc Khanh, Vietjet managing director, said that the company had a successful year in all aspects in 2017.

Vietjet received 17 aircrafts, including the first A321 Neo in South East Asia. By continually saving cost efficiently, for the time being, Vietjet is the airline that maintains its most efficient operating cost in the region, Khanh said.

Meanwhile, indicators of operation safety, ground operation were the highest in the region. The technical reliability reached 99.66 per cent — the highest level for the Airbus A320/321 fleet.

In order to continue to expand domestic routes as well as the markets to North Asia region, till the end of 2017, Vietjet operated 38 domestic routes and 44 international routes connecting the cities of more than a half of the world’s population.

Last year, the company operated 98,805 safe flights, transporting 17.11 million passengers — an increase of 22 per cent over 2016 — Khanh told shareholders.

Together with an increase in the volume of flown international passengers and international charters, ancillary was up in proportion to the number of flights. Vietjet continued to have a good harvest in term of finance.

As per Vietjet’s audited consolidated financial statements of 2017, its revenue stood at VND42.3 trillion, up 54 per cent year-on-year while after-tax profit reached over VND5 trillion, up 73 per cent.

The earning per share reached VND11,356.

Following positive business results, the company’s Board of Directors got approval from the shareholders to increase the dividend payment of 2017 from 50 per cent to 60 per cent. Accordingly, the company advanced 30 per cent dividend payment in cash and will pay a cash dividend of 10 per cent on May 25. Vietjet will pay a dividend of 20 per cent by shares.

“With expansion and increasing frequency of international routes to Japan, India and Australia, Vietjet is heading to a multinational airline model with a global vision and competitive ability,” the company said in a statement. — VNS

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