Vietjet's H1 profit reaches over $5.5m

Monday, Aug 02, 2021 13:47

A Vietjet plane lands at Tan Son Nhat International Airport in HCM City. — Photo courtesy of Vietjet

Vietjet Aviation Joint Stock Company (HOSE: VJC) announced consolidated revenue and pre-tax profit of over VND8.38 trillion (US$365 million) and VND127 billion ($5.53 million), respectively in the first half of this year.

Revenue in passenger transport in the period surpassed VND5.81 trillion, generating a pre-tax profit of VND13.7 billion, according to its financial results for H1 released on Monday.

In the second quarter, Vietjet’s air transport revenue hit over VND2.97 trillion, up 51 per cent year-on-year thanks to high travel demand in April. The airline had also sought ways to lift the cargo sector despite the impact of the fourth wave of COVID-19 in Viet Nam this quarter.

Its consolidated revenue totalled above VND4.33 trillion in the second quarter.

Vietjet said it has ventured into financial and project investments aiming to expand its business portfolio in support of the air transport sector while optimising equity capital during the temporary aviation slowdown.

By the end of June, the airline's total assets reached VND44 trillion. Its debt-to-equity ratio stayed at as low as 0.73 while the liquidity ratio remained at 1.5, which were considered in the safe zone and a good performance in the aviation industry.

From January to June, Vietjet had transported more than 4.8 million passengers on 34,000 flights. The airline had also focused on refining operation protocols and boosting its cargo operations, resulting in a 40-45 per cent year-on-year growth with a total of more than 37,000 tonnes of cargo delivered.

Together with strategic partners in the Sovico Group, Vietjet had played a very active role in the national fight against the COVID-19 pandemic by operating repatriation flights, donating to the National Vaccine Fund, granting ambulance vans to local health departments and sponsoring medical equipment for intensive care units (ICUs).

It had also airlifted healthcare workers and medical equipment free of charge while organising charity kitchens to provide meals for pandemic-affected citizens.

Still pursuing the customer-centric strategy, Vietjet is striving to be innovative and creative to digitalise all of its services and operation protocols, to optimise costs per flying hour and to expand its business in order to increase productivity and service quality. — VNS

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