Vietjet's 2022 Annual General Shareholders’ Meeting (Photo courtesy of Vietjet) The global aviation industry has faced the most unprecedentedand challenging time in its long history. Vietjet, though, has emerged from thepandemic with its pioneering spirit, patience, and robust inner strength.
Vietjet was reported to gain a consolidated revenueof 12,875 billion VND (approx. 555 million USD) in 2021 with the after-taxprofit of 80 billion VND (approx. 3.4 million USD). As of December 31, 2021,Vietjet’s assets totaled nearly 51,654 billion VND (approx. 2.22 billion USD).Its debt-to-equity ratio stayed at 0.9 while the liquidity ratio was at 1.6 -all were considered good indicators in the aviation industry.
In 2021, Vietjet has bounced back and expanded itsflight network, offering everyone more opportunities to fly and joined handswith localities contributing to the country’s economic recovery. The airlinelast year operated 40,000 flights, transporting more than 5.4 millionpassengers across over 50 domestic and international routes. It has alsoairlifted more than 63,000 tonnes of cargo, reporting a revenue growth of 200percent year on year.
The airline has operated several flights to airliftdoctors, police officers and soldiers to pandemic-stricken localities;delivered millions of Covid-19 vaccine doses and joined hands of strategicpartners in Sovico Group to grant medical utilities including ambulances,breathing machines, testing kits, and hospital beds to many localities.
Vietjet aircraft (Photo: VNA) Vietjet has invested in a wide-body fleet of AirbusA330-300 following the low-cost model, beginning a new era of longer-rangeflight routes. Both sides recently have also reached an agreement to continuetheir order contract with long-term cooperation programs aiming to make Vietnama regional and global aviation center.
Shareholders at the meeting have passed aresolution on business plan for 2022, in which Vietjet eyes to expand its fleetto 82 aircraft, operating 100,000 flights and transporting 18 millionpassengers.
The shareholders have also voted to pass aresolution to pay a 20 percent stock dividend from accumulated undistributedprofits from the years before the pandemic.
The airline this year plans to earn more than 22,300billion VND (approx. 959 million USD) in air transport revenue and make aprofit.
Vietjet, since its first flight in 2011, haspioneered in using e-tickets to replace paper ones and the implementation ofe-commerce. In 2022, the airline is set to keep broadening its application ofadvanced technology, automation and innovation; bolstering the digital businesssector in air transport, cargo and logistics; and growing and expanding airservices including ground handling, training, financing, project investment andother services.
Vietjet has rolled out the SFC02 includingsolutions to optimize the fuel consumption in aircraft operation, reducingenvironmental pollution. In the coming time, the airline will continue theprogram to monitor and manage the fuel consumption and CO2 emission of civilaircraft, aiming towards emission reduction and climate change prevention.
Recognizing 2021 was a challenging year for theaviation industry, Vietnam Deputy Minister of Transport Le Anh Tuan,representing the Vietnamese Government, however hailed that Vietjet hadresiliently overcome it and demonstrated its efforts and business success.
He said that Vietjet has actively resumed itsdomestic and international routes after the pandemic was put under control,even opening new routes to Japan, the Republic of Korea and India. He hopedthat Vietjet’s newly added wide-body Airbus A330 fleet preparing to fly toAustralia and Europe would bring more success to the airline.
Civil Aviation Authority of Vietnam Deputy DirectorDinh Viet Son acknowledged Vietjet’s contributions to the country’s aviationsafety and service quality. He highly regarded Vietjet as a model forflexibility and adaptability to hold firm throughout the pandemic while seekingnew opportunities to develop air transport.
“Following the scheme of ‘Flying in the digitalera’, Vietjet has found the right way that is in line with the government’s(digital) orientation especially in the aviation sector, which demands highestsafety and cutting-edge technology, and is also the current trend of theworld,” said Son.
The meeting also approved the profit distributionplan in 2021 and the dividend payment plan in 2022; bond issuance plan; plan toincrease charter capital; and elected members of the Board of Directors for2022-2027 term with independent members who are experienced experts in thefields of insurance and aviation./.
VNA
