Vietjet’s air transport revenue increases 28% in Q1

Vietjet’s air transport revenue grew nearly 28 per cent year on year to more than VND10 trillion (US$432 million) in the first quarter of this year thanks to its continuous international flight network expansion.— Photo Vietjet

During the reviewed period, Vietjet also saw a positive increase of 25.3 per cent in its pre-tax transport profit to VND923 billion ($40 million), the airline announced on Monday.

Overall, the airline’s business results in the three month period exceeded its plans with consolidated revenue reaching VND13.64 trillion and consolidated after-tax profit topping VND1.46 trillion, marking respective rises of 9 per cent and 7 per cent.

As to March 31, its equity stood at more than VND15.5 trillion, up 35 per cent year on year, according to Vietjet.

The carrier said it launched six new routes from January to March, raising the total number of its routes to 111. In the period, it operated more than 33,600 flights on its route network covering destinations in Viet Nam and Japan, Hong Kong, Singapore, South Korea, Taiwan, Thailand, Myanmar, Malaysia, Cambodia and mainland China.

The new-age airline has targeted nearly VND42.3 trillion air transport revenue by the end of this year, 25 per cent higher than last year’s figure. It also hopes to earn air transport profit of VND3.8 trillion this year.

According to Vietjet, it plans to open 20 new international routes by the year-end, transporting nearly 28 million passengers. — VNS