Vietjet Aviation Joint Stock Company (HOSE: VJC) has announced its audited financial results for the first half of 2024, showing an increase in both revenue and profit compared to the previous year. The airline's air transport revenue reached VND 33.862...
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Vietjet Aviation Joint Stock Company (HOSE: VJC) has announced its audited financial results for the first half of 2024, showing an increase in both revenue and profit compared to the previous year.
The airline's air transport revenue reached VND 33.862 trillion (around RM 5.98 billion) for the first six months of 2024. Pre-tax profit amounted to VND 1.166 trillion (around RM 205.79 million), reflecting a significant 688% rise year-on-year.
Consolidated figures for the first half of 2024 showed revenue of VND 34.030 trillion (around RM 6 billion) and pre-tax profit of over VND 1 trillion (around RM 176.49 million), marking increases of 15% and 307% compared to the same period in 2023.
As of 30 June 2024, Vietjet's total assets exceeded VND 92.205 trillion (around RM 16.273 billion). The airline's debt-to-equity ratio was reported at 2.16, which compares favourably to the global average of 5 in the industry. Its liquidity ratio stood at 1.39, within the favourable range for the aviation sector.
Vietjet has maintained a “vnBBB-” long-term credit rating with a stable outlook, according to Saigon Ratings, an independent credit agency. The airline's continued recovery, driven by strategic planning throughout 2022 and 2023, is expected to support its medium- and long-term development.
In the first half of 2024, the airline contributed VND 3.687 trillion (around RM 650.71 million) in direct and indirect taxes and fees.
Vietjet carried 13.1 million passengers on more than 70,000 flights during the period, with international passengers reaching 5.5 million. These figures represent year-on-year increases of 52% and 43%, respectively. The airline operates over 149 routes, with 38 domestic and 111 international, and a fleet of over 105 aircraft, including those of Vietjet Thailand.
At the Farnborough International Airshow, Vietjet signed an order with Airbus for 20 A330neo aircraft, valued at USD 7.4 billion (around RM 32.147 billion), as part of its strategy to expand its fleet with modern, environmentally friendly planes.
The airline is also investing in sustainable aviation fuel (SAF) development, as part of its commitment to sustainability and technological advancements.
Vietjet has received recognition from various organisations, including International Finance magazine, AirlineRatings, and Forbes. The airline recently won "Asia's Leading Airline for Customer Experience" and "Asia's Leading Airline Rewards Programme" at the World Travel Awards 2024.
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