Illustrative image (Source: Vietjet Air)
Hanoi (VNA) - In thefirst six months of 2019, Vietjet’s revenue from air transport continuedgrowing by 22 percent and its air transport profit increased by 16 percent yearon year.
According to Vietjet’s businessresults in the first half of 2019, air transport revenue was 20,148 billion VND(about 871.7 million USD), and profit before tax was 1,563 billion VND.Consolidated results included aircraft trading, consolidated revenue reached26,301 billion VND, up 24 percent and profit before tax was 2,398 billion VND,up 11 percent year on year.
In the first half of 2019,Vietjet operated 68,821 flights, equivalent to 45 percent of total flightsoperating by all Vietnamese airlines, transported 13.5 million passengers inall network. Vietjet maintained its leading position in domestic transportationwith 44 percent market share in the period.
The international market has hada large room to grow, its good profit margin thanks to ancillary revenue, a lowfuel cost advantage and an increase in foreign currency sources.Correspondingly, the number of passengers in international routes grew by 35percent to approximately 4 million passengers. The proportion of internationalrevenue surpassed domestic revenue, reached 54 percent of total air transportrevenue. Ancillary and cargo revenue was 5,474 billion VND, the proportionincreased from 21 percent last year to 27 percent this year, mainly thanks tothe contribution from the growth of international routes.
During Q1 & Q2/2019, Vietjethas opened nine international routes to Japan, Hong Kong, Indonesia, China and3 domestic routes, which helped increase the total number to 120 routes,including 78 international routes and 42 domestic ones. The flight network hascovered destinations in Vietnam and international to Japan, Hong Kong (China),Singapore, the Republic of Korea, Taiwan, Thailand, Myanmar, Malaysia, Cambodiaand China.
About other operating results,the revenue passenger kilometers (RPK) stood at 16.3 billion, up 22 percentyear on year, the load factor was averagely 88 percent, the technicalreliability was 99.64 percent and on-time performance (OTP) reached 81.5percent.
In the first 6 months, Vietjet’s equity reached 15,622 billionVND, up 32 percent year on year. Total assets were 44,461 billion VND, up 30percent year on year; including 21,955 billion VND long-term assets, accounting for 49 percent oftotal assets. Debt to Equity ratio was 0.50, which was positive compare to 0.64of last year. The Annual General Shareholders’ Meeting in April decided to pay2018 dividend at the rate of 55 percent, higher than the planned 50 percentapproved at the annual shareholders’ meeting last year.
In the first half of 2019, Vietjetalso introduced a new version of Vietjet Air apps which integrated VietjetSkyClub membership programme with many incentives and utilities includingbuying air tickets quickly on smart phones, hunting 0 VND tickets every Friday,and free payment fees.
Vietjet Aviation Academy locatedat Saigon High-Tech Park in Ho Chi Minh City is an international-standard modern trainingfacility with equipment, programmes of European Union Aviation Safety Agency(EASA) standards, which organized 250 courses for 5,623 pilots, cabin crews,engineers and aviation staffs in the first 6 months.
Especially, Vietjet is one ofthe few foreign enterprises and the only Vietnamese becoming a member of JapanBusiness Federation – Keidanren, an organization with a membership comprised ofworld and Japanese companies. Vietjet’s good operation and business resultswere recognized through many domestic and foreign prestigious awards, such as theHR Asia – Best company to work for in Asia 2019 award, and “The Best ServiceForeign Low Cost Carrier” award.
Vietjetis the first airline in Vietnam to operate as a new-age airline offeringflexible, cost-saving ticket fares and diversified services to meet customers’demands. It is a fully-fledged member of International Air TransportAssociation (IATA) with the IATA Operational Safety Audit (IOSA) certificate.
Vietjet was named “Best Ultra Low-Cost Airline 2018 - 2019” and awarded thehighest ranking for safety with 7 stars in 2018 by the world’s only safety andproduct rating website AirlineRatings.com. The airline has also been listed asone of the world's 50 best airlines for healthy financing and operations byAirfinance Journal in 2018.
Currently,Vietjet operates around 400 flights daily, carrying more than 80 millionpassengers to date, with 120 routes covering destinations across Vietnam andinternational destinations such as Japan, Hong Kong, Singapore, the RoK,Taiwan, mainland China, Thailand, Myanmar, Malaysia, Cambodia and Indonesia.-VNA
