Vietjet Air's stewardess serves passengers during its flight (Photo: Vietjet Air) Hanoi (VNA) - Vietjet Aviation Joint Stock Company has announced its auditedfinancial statements of 2018, which exceeded its annual plan.
Accordingly,2018 continued to be a year of high and sustainable growth of the new agedcarrier Vietjet. Audited business results of 2018 showed its total revenue of 53.57trillion VND (2.3 billion USD) and 5.81 trillion VND (250.5 million USD) in profitbefore tax.
Whenlisting at the beginning of 2017, Vietjet set its growth plan for three years (2017-2018-2019)with the profit after tax target of 2017 and 2018 reaching 7.8 trillion VND(336.3 million USD). The results exceeded expectations when the new aged carrierachieved 10.4 trillion VND profit after tax only in two years.
Vietjetalso maintains the ratio of dividend payout at 50 percent per year, includingshares and cash dividends as committed upon listing. In 2018, with positivebusiness results, the company expects to pay 55 percent dividend.
Remarkably,in the context of rising oil prices by 30 percent, air transport revenuereached to 33.78 trillion VND (1.45 billion USD) and air transport profitbefore tax was 3.04 trillion VND (131.2 million USD), increasing respectivelyby 49.8 percent and 48.9 percent over the previous year, which showed thecompany’s ability to grow revenue and its good cost management. It can be seenthat Vietjet’s strong growth in 2018 comes from its core business of airtransport services.
Ancillaryrevenue which has a high profit margin was 8.41 trillion VND, an increase of53.5 percent year on year. The proportion of this segment in total revenue hasalso increased from 24.5 percent in 2017 to 25.4 percent in 2018.
ByDecember 31t, 2018, its total consolidated assets were 39.08 trillionVND (1.68 billion USD), an increase of 23.5 percent year on year; equity was 14.03trillion VND (605.2 million USD), up 32.5 percent year on year.
Vietjethas beeen leading the domestic market in terms of transported passengers anddeveloping strongly international flight network, operated 118,923 flights on105 routes, including 39 domestic and 66 international ones, coveringdestinations in Vietnam and Japan, Hong Kong (China), Singapore, the Republicof Korea and Taiwan (China), Thailand, Myanmar, Malaysia, Cambodia, China.Vietjet’s aircraft also operate at Dubai and Doha airports.
Theinternational network expansion strategy of Vietjet was highly promoted inorder to increase the foreign currency collection from ticket sales and to takeadvantage of lower fuel price at international markets. The proportion ofinternational revenue surpassed domestic revenue and reached 48 percent oftotal air transport revenue.
In2018, Vietjet began to receive and operate the new generation A321neo aircraftwhich could save up to 16 percent fuel cost, contributing to decrease Vietjetoperating costs in the coming years. Vietjet's fleet as at December 31, 2018was one of the youngest over the world with just an average of 2.82 years old.
Vietjetalso has been successfully qualified with "IOSA International Air Safety"3rd certificate in September 2018. Vietjet's safety-operating indicators havebeen among the leading airlines in the Asia-Pacific region and awarded thehighest ranking for safety with 7-stars in 2018 by the world’s only safety andproduct rating website AirlineRatings.com.
Investingto sustainable development of the airline, in 2018, Vietjet Aviation Academycompleted and its flight simulator complex (SIM) in partnership with Airbuswere approved by European Aviation Safety Agency - EASA, certifying Europeanstandards - the world's leading aviation standards. At the beginning ofNovember 2018, on the occasion of the official visit of French Prime Ministerto Vietnam, Vietjet launched the Aviation Academy.
Untilthe end of last year, SIM provided approximately 1.000 training hours. TheAcademy conducted 924 courses for 21.611 trainees, including 157 pilot trainingcourses, 127 cabin crew training courses and 128 engineer training ones.
Besides,Vietjet was granted many prestigious awards in 2018 including Labor Medal,Vietnam's top 50 listed companies and top 40 most valuable brands of ForbesMagazine, Top 50 airlines for healthy financing and operations of AirFinanceJournal, Top 50 largest taxpayers in Vietnam, 50 best performing companies, Top100 best working places in Vietnam, Asian best flight attendant wardrobe...
Vietjet's continuous and sustainable development in the past fewyears and business results exceeding the 2018 plan continue to bring values,efficiency to investors, create momentum to fulfill the mission of offeringflying opportunities to everyone, becoming the regional and internationalairline.
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 provides not only transport services but also uses the lateste-commerce technologies to offer various products and services for consumers.Vietjet is a fully-fledged member of International Air Transport Association(IATA) with the IATA Operational Safety Audit (IOSA) certificate. Vietjet wasnamed “Best Ultra Low-Cost Airline 2018 - 2019” and awarded the highest rankingfor safety with 7 stars in 2018 by the world’s only safety and product ratingwebsite AirlineRatings.com. The airline has also been listed as one of theworld's 50 best airlines for healthy financing and operations by AirfinanceJournal in 2018.
Currently,Vietjet operates around 400 flights daily, carrying more than 70 millionpassengers to date, with 113 routes covering destinations across Vietnam andinternational destinations such as Japan, Hong Kong, Singapore, the Republic ofKorea, Taiwan, mainland China, Thailand, Myanmar, Malaysia and Cambodia.-VNA
Accordingly,2018 continued to be a year of high and sustainable growth of the new agedcarrier Vietjet. Audited business results of 2018 showed its total revenue of 53.57trillion VND (2.3 billion USD) and 5.81 trillion VND (250.5 million USD) in profitbefore tax.
Whenlisting at the beginning of 2017, Vietjet set its growth plan for three years (2017-2018-2019)with the profit after tax target of 2017 and 2018 reaching 7.8 trillion VND(336.3 million USD). The results exceeded expectations when the new aged carrierachieved 10.4 trillion VND profit after tax only in two years.
Vietjetalso maintains the ratio of dividend payout at 50 percent per year, includingshares and cash dividends as committed upon listing. In 2018, with positivebusiness results, the company expects to pay 55 percent dividend.
Remarkably,in the context of rising oil prices by 30 percent, air transport revenuereached to 33.78 trillion VND (1.45 billion USD) and air transport profitbefore tax was 3.04 trillion VND (131.2 million USD), increasing respectivelyby 49.8 percent and 48.9 percent over the previous year, which showed thecompany’s ability to grow revenue and its good cost management. It can be seenthat Vietjet’s strong growth in 2018 comes from its core business of airtransport services.
Ancillaryrevenue which has a high profit margin was 8.41 trillion VND, an increase of53.5 percent year on year. The proportion of this segment in total revenue hasalso increased from 24.5 percent in 2017 to 25.4 percent in 2018.
ByDecember 31t, 2018, its total consolidated assets were 39.08 trillionVND (1.68 billion USD), an increase of 23.5 percent year on year; equity was 14.03trillion VND (605.2 million USD), up 32.5 percent year on year.
Vietjethas beeen leading the domestic market in terms of transported passengers anddeveloping strongly international flight network, operated 118,923 flights on105 routes, including 39 domestic and 66 international ones, coveringdestinations in Vietnam and Japan, Hong Kong (China), Singapore, the Republicof Korea and Taiwan (China), Thailand, Myanmar, Malaysia, Cambodia, China.Vietjet’s aircraft also operate at Dubai and Doha airports.
Theinternational network expansion strategy of Vietjet was highly promoted inorder to increase the foreign currency collection from ticket sales and to takeadvantage of lower fuel price at international markets. The proportion ofinternational revenue surpassed domestic revenue and reached 48 percent oftotal air transport revenue.
In2018, Vietjet began to receive and operate the new generation A321neo aircraftwhich could save up to 16 percent fuel cost, contributing to decrease Vietjetoperating costs in the coming years. Vietjet's fleet as at December 31, 2018was one of the youngest over the world with just an average of 2.82 years old.
Vietjetalso has been successfully qualified with "IOSA International Air Safety"3rd certificate in September 2018. Vietjet's safety-operating indicators havebeen among the leading airlines in the Asia-Pacific region and awarded thehighest ranking for safety with 7-stars in 2018 by the world’s only safety andproduct rating website AirlineRatings.com.
Investingto sustainable development of the airline, in 2018, Vietjet Aviation Academycompleted and its flight simulator complex (SIM) in partnership with Airbuswere approved by European Aviation Safety Agency - EASA, certifying Europeanstandards - the world's leading aviation standards. At the beginning ofNovember 2018, on the occasion of the official visit of French Prime Ministerto Vietnam, Vietjet launched the Aviation Academy.
Untilthe end of last year, SIM provided approximately 1.000 training hours. TheAcademy conducted 924 courses for 21.611 trainees, including 157 pilot trainingcourses, 127 cabin crew training courses and 128 engineer training ones.
Besides,Vietjet was granted many prestigious awards in 2018 including Labor Medal,Vietnam's top 50 listed companies and top 40 most valuable brands of ForbesMagazine, Top 50 airlines for healthy financing and operations of AirFinanceJournal, Top 50 largest taxpayers in Vietnam, 50 best performing companies, Top100 best working places in Vietnam, Asian best flight attendant wardrobe...
Vietjet's continuous and sustainable development in the past fewyears and business results exceeding the 2018 plan continue to bring values,efficiency to investors, create momentum to fulfill the mission of offeringflying opportunities to everyone, becoming the regional and internationalairline.
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 provides not only transport services but also uses the lateste-commerce technologies to offer various products and services for consumers.Vietjet is a fully-fledged member of International Air Transport Association(IATA) with the IATA Operational Safety Audit (IOSA) certificate. Vietjet wasnamed “Best Ultra Low-Cost Airline 2018 - 2019” and awarded the highest rankingfor safety with 7 stars in 2018 by the world’s only safety and product ratingwebsite AirlineRatings.com. The airline has also been listed as one of theworld's 50 best airlines for healthy financing and operations by AirfinanceJournal in 2018.
Currently,Vietjet operates around 400 flights daily, carrying more than 70 millionpassengers to date, with 113 routes covering destinations across Vietnam andinternational destinations such as Japan, Hong Kong, Singapore, the Republic ofKorea, Taiwan, mainland China, Thailand, Myanmar, Malaysia and Cambodia.-VNA
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