Vietjet airline records positive business results in Q1, 2017

Ho Chi Minh City (VNA) - Vietjet Aviation Joint Stock Company recorded positive results for the first quarter of 2017 with its aviation transport revenue standing at 5,095 billion VND (224.2 million USD), up 44.2 percent year on year.  

The low-cost airline said on April 22 that the revenue exceeded target by 10.6 percent, while revenue proportion for international routes rose sharply.

Meanwhile, profit rose 6.8 percent compared to the same period of the previous year.

Profit before tax stood at 432.64 billion VND and profit after tax at 381.65 billion VND.

The airline carried 3.7 million passengers, an increase of 29.4 percent compared to the same period of 2016.

In the first quarter of 2017, Vietjet launched three more international routes, increasing its air routes to 63, with high load factor of 88 percent, OTP of 87.7 percent, an increase of 4.1 percent compared to 2016.

The first quarter of 2017 saw strong growth in its total asset which reached 21,727 billion VND, an increase of 17.37 percent compared to the early year period in which cash and cash equivalents sharply rose to 2,777 billion VND. For the same period of the previous year, cash and cash equivalents stood at approximately 944 billion VND. All this showed that the company's cash flow was very healthy. Its equity rose 69.7 percent from 3,072 billion VND to 5,213 billion VND.

In 2017, Vietjet plans to operate A320/A321 NEO family which will result in 15 percent fuel savings.

According to Vietjet Managing Director Luu Duc Khanh, the company operation cost has been within the world's top airlines.

Within the fírst 90 days of 2017, Vietjet operated 22,353 safe flights, recorded technical reliability at 99.59 percent, a slight increase of 0.02 percent compared to 2016. Flight operation,  ground operation and engineering safety indicators were listed in the group of highest quality airlines in the Asia Pacific region.-VNA