Vietjet’s Q1 pre-tax profit leaps 113 percent year on year hinh anh 1An aricraft of Vietjet (Photo:
HCM City (VNA) - As the aviation and tourism industries have bounced back strongly, the Vietjet Aviation Joint Stock Company kicked off 2022 with great performance, posting a year-on-year surge of 113 percent in pre-tax profit in the first quarter.

The firm attributed the impressive performance to the rapid recovery of passenger transport and the ever-growing cargo business, which respectively grew by 76 percent and 94 percent in Q1.

In the time under review, Vietjet’s consolidated revenue reached 4.522 trillion VND (about 197 million USD) while the after-tax profit was 244 billion VND, up 12 percent and 98 percent from a year earlier, respectively.

Vietnam’s aviation and tourism sectors have fully reopened since late last year to meet the rising travel demand. In the first three months of 2022, Vietjet resumed its entire domestic network as well as regular international services. It operated a total of 20,000 flights with more than 3 million passengers onboard across 60 domestic and international routes.

The carrier also airlifted more than 12,500 tonnes of cargo during the three months.

Vietjet’s Q1 pre-tax profit leaps 113 percent year on year hinh anh 2An attendant serves on a Vietjet flight (Photo:
According to its 2021 audited financial statements, the parent company earned 9.065 trillion VND in revenue with the audited post-tax profit increasing by 91 percent over the compiled financial statement thanks to gains in financial activities.

Meanwhile, Vietjet’s consolidated revenue and after-tax profit in 2021 reached 12.875 trillion VND and 80 billion VND, respectively. Rising costs from deferred income taxes resulted in a lower consolidated after-tax profit than in the 2021 compiled statements.

As of December 31, 2021, Vietjet’s total assets approximated 51.654 trillion VND. Its debt-to-equity ratio stayed at 0.9 while the liquidity ratio was at 1.6, which were considered good indicators in the aviation industry.

Last year, the airline operated nearly 42,000 flights across its network with more than 5.4 million passengers onboard and over 66,000 tonnes of cargo./.