Vietjet reports strong growth in revenue and profit in H1, reached 33.862 trillion VND
Vietjet Aviation Joint Stock Company (VJC) has released its audited financial statement for the first half of 2024 (H1/2024), reporting strong growth in revenue and profit year-over-year (YoY).
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| Vietjet reports strong growth in revenue and profit in H1. (Source: Vietjetair) |
According to the report, Vietjet’s air transport revenue reached 33.862 trillion VND (approx. 1.37 billion USD) in the first six months of 2024, slightly higher than the compiled financial statements. Its pre-tax profit was recorded at 1.166 trillion VND (approx. 47.38 million USD), marking a dramatic increase of 688% YoY.
Vietjet reported H1/2024 consolidated revenue of 34.030 trillion VND (approx. 1.38 billion USD) and consolidated pre-tax profit of more than 1 trillion VND (approx. 40.63 million USD), representing increases of 15% and 307%, respectively, YoY.
As of June 30, 2024, Vietjet's total assets reached over 92.205 trillion VND (approx. 3.74 billion USD). The debt-to-equity ratio remained at around 2.16, compared to a global average of 5. Its liquidity ratio stood at 1.39, which is within a good range for the aviation industry.
According to Saigon Ratings, an independent credit rating organization, Vietjet has maintained a long-term credit rating of “vnBBB-” with a "Stable" outlook. Given the airline’s remarkable ongoing recovery and proactive preparations for future plans throughout 2022 and 2023, Vietjet is expected to achieve breakthrough developments more quickly and sustainably in the medium and long term.
In the first half of 2024, Vietjet paid a total of 3.687 trillion VND (approx. 146.78 million USD) in direct and indirect taxes and fees.
The airline transported a total of 13.1 million passengers on more than 70,000 safe flights in H1/2024. The number of international passengers reached 5.5 million while the number of international flights exceeded 28,300, increasing by 52% and 43% respectively YoY. This makes Vietjet the leading airline in terms of passenger volume.
Vietjet operates more than 149 routes across Vietnam and beyond, including 38 domestic and 111 international routes.
With a fleet of more than 105 aircraft (including those of Vietjet Thailand), Vietjet is actively expanding its flight network transcontinentally, developing a new, modern, and environmentally friendly fleet.
At the Farnborough International Airshow earlier this year, Vietjet and Airbus signed an order for 20 new-generation wide body A330neo (A330-900) aircraft worth 7.4 billion USD.
Embracing a strategy and vision of building and developing aviation human resources to international standards, Vietjet Aviation Academy (VJAA) has become a training partner of the International Air Transport Association (IATA).
Vietjet is pioneering research into the development and use of sustainable aviation fuel (SAF), aiming to become a green airline leading in technology and activities associated with sustainable development.
Vietjet was honored by the world's leading financial magazine International Finance as "Best Low-cost Airline in Southeast Asia" and "Best Finance-Management-Aviation-Vietnam"; recognized by AirlineRatings as "Best Ultra Low-cost Airline" and "Best Low-cost Airline Onboard Hospitality”; and was among Forbes’ top 50 best-listed companies in Vietnam in 2024.
The airline was also a dual winner at the World Travel Awards 2024, being named "Asia's Leading Airline for Customer Experience" and "Asia's Leading Airline Rewards Programme".
Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others.
(Source: VNA)
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