The Vietjet Aviation Joint Stock Company (HOSE code: VJC) recorded a yearly revenue increase of 105 percent to more than 12.71 trillion VND (544.28 million USD) in the third quarter of 2018 (Photo: VNA)
 
HCM City (VNA) – The Vietjet Aviation Joint Stock Company (HOSE code: VJC) recorded a yearly revenue increase of 105 percent to more than 12.71 trillion VND (544.28 million USD) in the third quarter of 2018.

The strong revenue growth was fuelled by rising air transport, ancillaries, sales and leaseback revenue, according to Vietjet’s business results released on October 30.

Vietjet’s air transport revenue for the quarter reached 8.9 trillion VND, an increase of 45 percent year-on-year, and the load factor stood at approximately 89 percent thanks to the expansion of a new, modern fleet along with the opening of new international routes and flexible seat capacity management in the low season.

Air transport profit in the third quarter topped over 1 trillion VND, 11 percent higher than the same period last year. Ancillary products and services also grew dramatically with 2.8 trillion VND in revenue, up 55 percent year on year.

The airline’s pre-tax profit stood at 1.71 trillion VND from July to September, up 60 percent year-on-year.

Over the first nine months, Vietjet continued to have the most flights and best growth with 89,690 take-offs, an increase of approximately 22 percent.

The airline transported approximately 16.9 million passengers to retain its leading position in the domestic air transport market. International revenue ratio reached over 50 percent of total operational revenue, exceeding its plan.

Vietjet’s revenue in the nine-month period reached 33.9 trillion VND while its pre-tax profit hit 3.68 trillion VND, up 30 percent over the same period last year.

According to Vietjet, its transport revenue stood at 25.4 trillion VND in the reviewed period, a yearly hike of 50 percent, and the air transport profit after tax was 2.28 trillion VND, making up 76 percent of its 2018 target.

Besides these positive business results, the airline’s on-time performance stood at 83.5 percent while its technical reliability was 99.66 percent with the safety performance of flight, ground operation indicators amongst the top in the region, Vietjet said in a statement.

The carrier has also been awarded the world’s highest safety ranking with 7 stars by AirlineRatings.com, the world’s leading airline safety and product rating agency.-VNA