Vietjet Aviation Joint Stock Company (HOSE: VJC) recorded strong growth in revenue and profit in the fourth quarter and the whole year of 2024.
Vietjet aircraft at Miami airport, Florida, USA - Photo: TL
Complete the target of receiving new aircraft, achieving high revenue
According to the 4th quarter 2024 business results report, the airline recorded aviation revenue of VND 19,776 trillion and after-tax profit of VND 167 billion, up 36% and 247% respectively over the same period in 2023.
In 2024, aviation revenue will reach VND 71,545 billion, and after-tax profit will reach more than VND 1,301 billion, up 33% and 697% respectively compared to 2023.
Consolidated business results for the fourth quarter, the company achieved VND 19,797 billion in revenue, and more than VND 21.4 billion in profit after tax, up 36% and 8% respectively over the same period in 2023. For the whole year of 2024, sales revenue and service provision reached VND 71,859 billion, and more than VND 1,426 billion in profit after tax, up 23% and 516% respectively over 2023.
In 2024, the airline transported more than 25.9 million passengers on 137,000 flights; operated a total of 145 routes, including 44 domestic routes and 101 international routes.
The airline has completed its target of receiving 10 new aircraft in 2024, bringing its total fleet to 94, with the youngest fleet age in the region. Its flights achieved a high average seat load factor of 87% and technical reliability of 99.72%.
As of December 31, 2024, total assets reached nearly VND 99,500 billion, debt/equity ratio was 2.12 times and liquidity ratio was 1.71 times, at a safe level in the aviation industry.
Cash balance, bank deposits and cash equivalents reached more than 7.7 trillion VND, plus working capital limit, ensuring the company's solvency.
Vietjet contributed more than 7.5 trillion VND in direct and indirect taxes and fees in 2024.
Promoting international flight network expansion
The positive business results reflect the strategy of expanding the international flight network in addition to maintaining a stable domestic flight network, aiming to explore new markets, strengthen Vietnam's connection with countries in and outside the region, contributing to promoting tourism, trade and investment between parties.
Vietjet Board Chairwoman, Dr. Nguyen Thi Phuong Thao speaks at the "Friends of Vietnam Summit" event in Mar-a-Lago - USA - Photo: TL
In the fourth quarter of 2024, Vietjet launched direct flights from Da Nang to Ahmedabad (India), Xi'an (China) to Ho Chi Minh City, increased the frequency of direct flights between Ho Chi Minh City and Perth (Australia) and many other destinations in the region such as Korea, Japan, Hong Kong (China)...
Vietjet has also signed a cooperation agreement with Emirates to expand connections between major cities in Vietnam and Dubai, UAE, as well as global destinations. In addition, the airline has continuously announced new direct routes to Hyderabad and Bangalore (India), Beijing and Hangzhou (China), connecting deeply with two potential billion-people markets.
Vietjet and CFM International have reaffirmed their commitment to orders for more than 400 LEAP-1B engines and technical maintenance services for the airline’s narrow-body aircraft, worth $8 billion. The airline has also signed an agreement with Castlelake to arrange a long-term lease-purchase finance loan worth $560 million.
New milestone from Vietnam - US flight
Entering 2025, the airline marked an important milestone on its development journey by conducting the first flight from Vietnam to the United States.
During the trip, cooperation worth about 14 billion USD between the airline and strategic partners in the United States was discussed in a positive spirit, following other strategic agreements of Vietjet with leading corporations such as Boeing, GE, CFM, Pratt & Whitney, Honeywell... with a total value of nearly 50 billion USD.
In 2024, Vietjet transported more than 25.9 million passengers - Photo: TL
The airline is expected to receive the first 14 737 Max aircraft out of 200 ordered from Boeing, significantly increasing its transport capacity to meet the growing travel needs of people at home and abroad.
The airline is also actively negotiating with SpaceX and a number of Internet technology solution providers on aircraft to serve its fleet of hundreds of aircraft, constantly innovating, improving service quality, and updating digital trends in the era of innovation.
By 2025, the airline aims to maintain its pioneering position in connecting Vietnam with the world through an increasingly expanding international flight network, contributing to promoting trade, investment, cultural and people-to-people exchanges between Vietnam and countries in and outside the region.
At the same time, aiming to become a green airline, leading in technology, Vietjet will continue to promote activities associated with sustainable development, contributing to the economies of countries, and being responsible to society and the community.
Source: https://tuoitre.vn/vietjet-dat-doanh-thu-2024-cao-nhat-tu-truoc-den-nay-20250204110904939.htm
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