Vietjet Air targets 1.8 billion USD in 2017 revenue

HCM City (VNA) – The low-cost carrier Vietjet Air targets revenue of 42 trillion VND (about 1.8 billion USD) in 2017, with pre-tax profit of over 3.6 trillion VND (158.4 million USD) with 50 percent of dividend.

The information was released at the firm’s shareholders’ meeting in Hanoi on April 20, during which leaders of Vietjet Air said that the carrier will operate 51 airplanes for over 98,100 flights carrying about 17 million passengers in the whole year.

At the same time, Vietjet will also increase its air routes to 78, including 37 international ones.

Luu Duc Khanh, CEO of Vietjet, said that after five yearsof operation, Vietjet transported over 34 million passengers and more than 158,100 tonnes of cargo through nearly 204,400 flights on around 60 domestic and international routes.

Vietjet increased itscapital from 600 billion VND in 2012 to 3,000 billion VND in 2016, while raising the equity capital to over 4.7 trillion VND (210.5 million USD). It enjoyed an annual growth of over 70 percent in passenger transport revenues in the 2012-2016 period.

Last year, Vietjet earned revenue of 27.5 trillion VND and pre-tax profit of over 2.7 trillion VND.

At the meeting, stakeholders agreed to raise the ratio of foreign investors’ share from 30 percent to 49 percent, thus improving the liquidity of its transactions.

They also approved a list of six candidates for seats in the Board of Directors.-VNA