Vietjet released its business results for the first half of the year, with an air transport revenue of VND20,148 billion (approximately 863 million USD), an increase of 22 per cent from the same period last year.
Vietjet’s pre-tax profit was VND1,563 billion (approximately 67 million USD), an increase of 16 per cent year on year, while the consolidated revenue, including profits earned from the trade of aircrafts, reached more than VND26.3 trillion (approximately 1.1 billion USD), an increase of 24 per cent. The pre-tax profit was nearly VND2.4 trillion (approximately 103 million USD), with an 11 per cent year on year increase.
In the last six months, Vietjet operated a total of 68,821 flights and transported 13.5 million passengers, accounting for up to 45 per cent of the total number of flights operated by all Vietnamese carriers. With 44 per cent of the market share in the first half of 2019, Vietjet maintains its leading position in the domestic transport industry. Vietnam Airlines arrived at second place with 34 per cent of the market share.
Vietjet attributes its positive results to a strong growth in the international market coupled with a large profit margin from ancillary revenue and low fuel cost.
The total number of passengers transported by Vietjet grew by 35 per cent, with nearly four million passengers. Revenue from its international flights surpassed domestic flights to reach 54 per cent of Vietjet’s total airway transport revenue and increased their profit from foreign currencies.
Ancillary and cargo revenues were at more than VND5.5 trillion (approximately 236 million USD), increasing from 21 per cent last year to 27 per cent this year. Vietjet’s Revenue Passenger Kilometers (RPK) also reached 16.3 billion, increasing 22 per cent year-on-year. Load factor was at 88 per cent on average, while its technical reliability reached 99.64 per cent and on-time performance (OTP) reached 81.5 per cent.
The technical statistics also contributed to positive business results. Vietjet’s equity reached VND15,622 billion (approximately 667 million USD), an increase of 32 per cent from the same period in 2018. Vietjet’s total assets reached nearly VND44.5 trillion (approximately 2 billion USD), an increase of 30 per cent year on year; of which almost half were long-term assets coming up to more than VND21.9 trillion (approximately 938 million USD).
The debt to equity ratio was at 0.50, a positive result compared to 0.64 last year. In April, Vietjet’s Annual General Shareholders’ Meeting approved to pay 2018 dividends at a rate of 55 per cent, higher than the planned rate of 50 per cent.
In the last six months, Vietjet also introduced a new version of the “Vietjet Air” mobile app, which integrated Vietjet SkyClub memberships with various rewards and perks. Other key achievements of 2019 that affirmed Vietjet’s positive performance include the continued success of the Vietjet Aviation Academy, with a modern training programme that subscribes to European Union Aviation Safety Agency (EASA) standards; and attaining both domestic and international milestones, such as becoming a member of the Japanese Business Federation – Keidanren.
With its achievements in the past year, Vietjet expects to maintain its trajectory of positive growth in the next three years, as projected by the Board of Management at the Annual General Shareholders’ Meeting.
The Philippine Armed Forces (PAF) took delivery of the first India-made BrahMos land-based anti-ship missile system at Clark Air Base…
The UK Ministry of Defence (MoD) ordered six Airbus H145 helicopters as part of its efforts to update its rotary…
The Brazilian aerospace company, Embraer, signed a Memorandum of Understanding (MoU) with AICAT (Austrian Industrial Cooperation & Aviation Technology) to…
Qatar’s Hamad International Airport (DOH) announced that it has reclaimed the title of the "World’s Best Airport" at the prestigious…
Israel Aerospace Industries (IAI) joined the Sharp Technics K (STK) and Incheon International Airport Corporation for a ceremony heralding the…
Curtiss-Wright Defense Solutions division has forged a strategic alliance and reseller agreement with Rancher Government Solutions (RGS), a provider of…
Saudia, the national airline of Saudi Arabia, has experienced a significant surge in brand value, as indicated by the latest…
The ongoing eruption of Mount Ruang in the Siau Islands regency, North Sulawesi, Indonesia has caused significant disruptions to air…
Scoot, the low-cost arm of Singapore Airlines, recently received the first Embraer E190-E2 aircraft at Changi Airport. "We are excited…
The first of two Fincantieri-built PPA (Pattugliatore Polivalente d'Altura - offshore multi-purpose patrol vessel) for the Indonesian Navy is expected…
Thailand’s DTI (Defence Technology Institute) and the Royal Thai Army recently conducted a successful test of the DTI-STD-003 bridge layer…
Eve Air Mobility has signed a letter of intent with AirX, Japan’s largest public helicopter air charter service, for up…
L3Harris Technologies has received a US$256 million order from the U.S. Army for continued production of the Enhanced Night Vision…
The Missile Defense Agency has selected Lockheed Martin to deliver the nation's new homeland missile defense capability, the Next Generation…
Collins Aerospace will introduce two major upgrades to the Ascentia software platform. Ascentia is a software solution for aircraft reliability management that…
Pratt & Whitney Canada's PT6A engine recently surpassed 25 million flight hours and 40 years of powering the Cessna Caravan…
The US Army deployed its Mid-Range Capability (MRC) missile system to Northern Luzon, Philippines for the first time. This deployment…
Milrem Robotics has secured a contract to deliver an undisclosed quantity of THeMIS UGVs (Unmanned Ground Vehicles) to the Japanese…
CMA CGM Air Cargo is set to expand its service by launching a transpacific route connecting Asia to North America…
Eve Air Mobility (Eve) has designated Korea Aerospace Industries Ltd. (KAI) as the supplier for the pylons of its electric…
Emirates SkyCargo, the cargo arm of one of the two flag carriers of the United Arab Emirates (UAE), has established…
Israel Aerospace Industries (IAI) has secured a contract to supply a Multi-Sensor Multi-Mission Radar (MS-MMR) system for the air defence…
The first Embraer E190F, a jet converted from passenger transport to freighter (E-Freighter), successfully concluded its inaugural flight in São…
The Government of Greece officially announced its plans to purchase 35 UH-60M Black Hawk helicopters from Sikorsky, a Lockheed Martin…
Cathay Cargo resumed its Ho Chi Minh City freighter service on April 4, 2024, after a four-year hiatus due to…
Skykraft has secured approval from the International Telecommunications Union (ITU) for its spectrum filing for a constellation of 2976 satellites.…
The U.S. Navy, in partnership with Lockheed Martin, has successfully conducted a historic Long-Range Anti-Ship Missile (LRASM) flight test with…
The U.S. Air Force has awarded Boeing a contract worth up to $559 million over five years to operate, maintain…
Israel Weapon Industries (IWI) introduced the ARBEL, hailed as the world’s first computerized small arms system, on Thursday (Apr. 4).…
Hong Kong’s Government Flying Service (GFS) has integrated the H175 helicopter flight simulator developed by Indra into their training regimen.…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2024. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.