Vietjet stays firm on international network’s expansion, eyeing to become a digital and consumption airline in 2023

Thursday, Apr 27, 2023 10:46

Vietjet 2023 General Meeting of Shareholders took place on Wednesday in HCM City. — Photo courtesy of Vietjet

Vietjet Aviation Joint Stock Company (HoSE: VJC) targets to earn a consolidated revenue of over VND50.17 trillion (US$2.14 billion) and after-tax profit of VND1 trillion ($42.8 million) in 2023.

Vietjet this year plans to expand its fleet of 87 aircraft (including nine Airbus A330 wide-body aircraft), expecting to operate 139,513 flights with 25.7 million passengers onboard.

These goals were announced at its General Meeting of Shareholders (GMS) held in HCM City on Wednesday.

The GMS set the targets for Vietjet to maintain its position in terms of passenger volume and efficiency in Viet Nam, reaching agreements with aircraft manufacturers Airbus and Boeing to ensure on-time delivery, expanding business activities in ground services, training services, and digital business and optimising operations and financial solutions to cut costs while improving efficiency.

The GMS also agreed on the goals of making Vietjet a leading airline in digital technology, raising capital to meet the development demand, prioritising asset growth, and financial capability improvement, and laying out the foundation for its sustainable development.

Vietjet Chairwoman Nguyen Thi Phuong Thao delivered the opening speech at the General Meeting of Shareholders. — Photo courtesy of Vietjet

The 2022 audited financial statements reported that Vietjet’s consolidated revenue reached over VND40.14 trillion, up 212 per cent year-on-year. The long-term assets increased by over $200 million in worth.

The airline’s total assets surpassed VND68 trillion with the debt-to-equity rate at nearly 1.3 which was considered to be good in the aviation industry. Its payment of direct and indirect taxes, fees and charges to the State budget totalled VND4.35 trillion.

In 2022, Vietjet transported 20.5 million passengers on more than 116,261 flights, up 283 per cent and 186 per cent year-on-year respectively. It led the domestic market in terms of passenger volume.

Vietjet has also brought its widebody Airbus A330 fleet into operation to effectively fly long-range routes to Kazakhstan, India and Australia.

The airline has successfully worked on the tablet check-in project, helping ground operation staff to flexibly process check-in for the passengers, as well as integrating HD Insurance and Galaxy Pay services into the system to offer more options to passengers.

It has also launched the brand-new loyalty programme SkyJoy with endless rewards together with the in-flight POS payment system for ancillary purchases. — VNS

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