Vietjet to grow revenue 15% in first six months of 2024

Vietjet Air records record revenue growth in first 6 months of 2024

In the first six months of 2024, Vietjet returned to operating at a higher level than in 2019, before the COVID-19 pandemic.

In the first half of 2024, Vietjet transported 13.1 million passengers and operated 70,154 safe flights.

In the second quarter of 2024, Vietjet recorded air transport revenue of VND 15,128 billion, profit before corporate income tax of VND 517 billion, up 23% and 683% respectively over the same period.

In the first six months, the airline's air transport revenue reached VND32,893 billion, up 31% year-on-year. Pre-tax profit reached VND1,174 billion, up 690% year-on-year.

Regarding consolidated business results, Vietjet achieved VND 34,016 billion in revenue and VND 1,311 billion in pre-tax profit after the first 6 months of 2024, up 15% and 433% respectively over the same period, exceeding 21% of the annual plan.

As of June 30, 2024, Vietjet's total assets reached more than VND91,755 billion. The debt/equity ratio was only 2 times compared to the normal level in the world up to 5 times. Cash and cash equivalents at the end of the second quarter reached more than VND4,100 billion.

Vietjet has been given a long-term credit rating by Saigon Ratings, an independent credit rating agency.

According to the update of the independent credit rating agency Saigon Ratings, Vietjet has maintained its long-term credit rating of vnBBB- with a "Stable" outlook. The airline is assessed to have a clear recovery, and with the company's proactive preparation of important conditions and premises in 2022 and 2023, Vietjet can develop faster and more sustainably in the medium and long term.

Vietjet contributed VND3,687 billion in direct and indirect taxes and fees to the budget in the first six months of 2024.

Continue to pioneer in opening international flights

To date, Vietjet is operating more than 149 routes across Vietnam and internationally, including 38 domestic routes and 111 international routes.

Vietjet has opened a route connecting Ho Chi Minh City with Xi'an, the capital of Shaanxi Province (China), opened a route from Phu Quoc to Taichung and Kaohsiung (Taiwan, China), and opened a route from Ho Chi Minh City to Vientiane (Laos).

The airline also announced the Nha Trang - Daegu (Korea) route, expected to operate from October 2024. It is the airline with the most routes between Vietnam and Korea, marking a 10-year journey connecting Vietnam and Korea, carrying 10 million passengers on more than 37 routes between the two countries.

Vietjet pioneers in opening international routes, connecting the world

For the Asia - Australia transcontinental route, Vietjet launched two routes Hanoi - Melbourne, Hanoi - Sydney, bringing the number of routes between Vietnam - Australia to 7, creating convenience for people and passengers to travel, travel, invest, exchange economically, trade, study abroad, visit relatives... between the two countries.

With 5 routes from Ho Chi Minh City to 5 largest cities in Australia, Vietjet is the airline operating the most routes between Vietnam and Australia with 58 flights per week.

Developing a modern, environmentally friendly fleet

Operating a fleet of more than 105 aircraft (including Vietjet Thailand) with a continuously growing number of passengers transported every year, Vietjet is actively expanding its flight network across the continents, developing a new, modern, and environmentally friendly fleet.

With the strategy and vision of building and developing international standard aviation human resources, Vietjet Aviation Academy (VJAA) has become a training partner of the International Air Transport Association (IATA).

In the first half of 2024, VJAA trained more than 43,000 students with 3,898 courses; proactively trained pilots and specialized technical staff (CRS) to meet the needs of engineering. The academy also put into operation the No. 3 simulator cockpit, continuing to be the leading international pilot training center in the region.

Vietjet Aviation Academy has trained thousands of students and opened up job opportunities at Vietjet.

Inspiring the passion for conquering the sky, Vietjet welcomes many students to study in a multinational working environment, providing students with knowledge and practical experience. The airline also accompanies universities to provide career guidance for students, opening up job opportunities at Vietjet.

On flights during the celebrations of National Reunification Day on April 30 and International Labor Day on May 1, Vietjet introduced the image of a renewed and integrated Vietnam.

On occasions such as Children's Day June 1, International Women's Day March 8, Valentine's Day February 14, etc., Vietjet flights are filled with a festive atmosphere, bringing unexpected and meaningful gifts to passengers.

At the 2024 Tourism Festival, Vietjet led the Summer Parade with an impressive image for local and international people and tourists, spreading the meaningful message of "Protecting the green planet", protecting the environment, protecting wildlife, and developing together for a bright future for all...

Vietjet continues to expand its flight network, developing a new and more modern fleet.

In order to enhance operational capacity and serve the development of the global flight network, at the recent Farnborough Airshow 2024, Vietjet and Airbus signed a contract to purchase 20 new generation wide-body aircraft A330neo (A330-900) with a total value of 7.4 billion USD.

Vietjet has also been honored by the world's leading financial magazine International Finance as "Best Low-Cost Airline" and "Best Financially Managed Airline"; honored by AirlineRatings as "World's Best Ultra-Saver Airline" and "Low-Cost Airline with Best In-Flight Service of the Year"; honored by Forbes in the top 50 best listed companies in Vietnam in 2024.

2024 marks a new, comprehensive development milestone for the airline with a widely expanded mid-range international flight network, ready to meet domestic transportation needs and continue plans to expand the international flight network further.

Source: https://tuoitre.vn/vietjet-tang-truong-doanh-thu-15-trong-sau-thang-dau-nam-2024-20240801115905818.htm