Vietjet released its business results for the first half of the year, with an air transport revenue of VND20,148 billion (approximately 863 million USD), an increase of 22 per cent from the same period last year.
Vietjet’s pre-tax profit was VND1,563 billion (approximately 67 million USD), an increase of 16 per cent year on year, while the consolidated revenue, including profits earned from the trade of aircrafts, reached more than VND26.3 trillion (approximately 1.1 billion USD), an increase of 24 per cent. The pre-tax profit was nearly VND2.4 trillion (approximately 103 million USD), with an 11 per cent year on year increase.
In the last six months, Vietjet operated a total of 68,821 flights and transported 13.5 million passengers, accounting for up to 45 per cent of the total number of flights operated by all Vietnamese carriers. With 44 per cent of the market share in the first half of 2019, Vietjet maintains its leading position in the domestic transport industry. Vietnam Airlines arrived at second place with 34 per cent of the market share.
Vietjet attributes its positive results to a strong growth in the international market coupled with a large profit margin from ancillary revenue and low fuel cost.
The total number of passengers transported by Vietjet grew by 35 per cent, with nearly four million passengers. Revenue from its international flights surpassed domestic flights to reach 54 per cent of Vietjet’s total airway transport revenue and increased their profit from foreign currencies.
Ancillary and cargo revenues were at more than VND5.5 trillion (approximately 236 million USD), increasing from 21 per cent last year to 27 per cent this year. Vietjet’s Revenue Passenger Kilometers (RPK) also reached 16.3 billion, increasing 22 per cent year-on-year. Load factor was at 88 per cent on average, while its technical reliability reached 99.64 per cent and on-time performance (OTP) reached 81.5 per cent.
The technical statistics also contributed to positive business results. Vietjet’s equity reached VND15,622 billion (approximately 667 million USD), an increase of 32 per cent from the same period in 2018. Vietjet’s total assets reached nearly VND44.5 trillion (approximately 2 billion USD), an increase of 30 per cent year on year; of which almost half were long-term assets coming up to more than VND21.9 trillion (approximately 938 million USD).
The debt to equity ratio was at 0.50, a positive result compared to 0.64 last year. In April, Vietjet’s Annual General Shareholders’ Meeting approved to pay 2018 dividends at a rate of 55 per cent, higher than the planned rate of 50 per cent.
In the last six months, Vietjet also introduced a new version of the “Vietjet Air” mobile app, which integrated Vietjet SkyClub memberships with various rewards and perks. Other key achievements of 2019 that affirmed Vietjet’s positive performance include the continued success of the Vietjet Aviation Academy, with a modern training programme that subscribes to European Union Aviation Safety Agency (EASA) standards; and attaining both domestic and international milestones, such as becoming a member of the Japanese Business Federation – Keidanren.
With its achievements in the past year, Vietjet expects to maintain its trajectory of positive growth in the next three years, as projected by the Board of Management at the Annual General Shareholders’ Meeting.
Malaysian defense company, Deftech, displayed a range of unmanned aerial vehicles (UAVs) intheir booth during the DSA 2022 expo. The…
Airbus has performed a first A380 flight powered by 100% Sustainable Aviation Fuel (SAF). Airbus’ A380 test aircraft MSN 1…
Cargojet has entered into a five-year strategic agreement with DHL, with a renewal option for an additional two years, to…
The Icelandic airline Eagle Air and the German aircraft manufacturer Deutsche Aircraft have announced a renewal of their support contract…
Hindustan Aeronautics Limited (HAL) has signed an Memorandum of Understanding (MoU) with UPNM Malaysia for collaboration and training of faculty…
Meopta is displaying a wide range of military-grade optical gun sights, scopes, and night vision equipment at the Defense Services…
After signing a Memorandum of Understanding (MoU) with Malaysia’s G7 Aerospace at DSA 2022 event on Monday (Mar. 28), Infoglobal…
Insight Atlantic, a Malaysian defense equipment supplier, is displaying a range of made-in Germany, Lowa tactical footwear in its booth…
PAL Aerospace and Thales have signed an agreement to jointly develop the next generation of mission system during the DSA…
Airod Techno Power (ATP) signed a Memorandum of Understanding (MoU) with Honeywell International to provide Maintenance, Repair, and Overhaul (MRO)…
Advanced Defence Systems (ADS) has signed an MoU with Nexter on the third day of the DSA 2022 event, Wednesday…
In a public announcement released by the Malaysian Ministry of Defence (MINDEF) on Wednesday (Mar. 30), there have been 54…
Sikorsky and Boeing on Thursday announced six new members, including Magnaghi Aeronautica and Collins Aerospace, of Team DEFIANT. The suppliers…
MA Group will provide the fully integrated landing gear system for the DEFIANT X helicopter, consisting of the nose and…
After spending about US$7.4 million on the project, the Australian government has cancelled its Project Air 7003, a program that…
AerCap has signed lease agreements for ten new Airbus A320neo aircraft and two new Airbus A330neo aircraft with ITA Airways.…
A routine service test for an Emirates Airbus A380 aircraft on April 1 has ended with a surprising result. …
Malaysia-based DefTech and Iveco Defence Vehicles are joining hands to establish an authorised MRO centre for Iveco Defence Vehicles trucks…
General Atomics-Aeronautical Systems, Inc. (GA-ASI) has begun the first installation of factory upgrades to a Gray Eagle-Extended Range (GE-ER) Unmanned…
FL Technics has launched a dedicated business line for wheels and brakes maintenance and opened a specialized shop at the…
ScioTeq has launched RDU-4208 LAD, its new full redundant Large Area Display (LAD) that can be deployed in new cockpits…
Etihad Airways, on March 31st., 2022, unveiled its new Airbus A350-1000, registration A6-XWB, on a special inaugural commercial flight from…
RGA-Black Stone Airlines, a newcomer in the Indonesian aviation business, officially started its business in the country after having its…
SIA Engineering Company Limited (SIAEC) announced that it has signed a non-binding Memorandum of Understanding (MoU) with Impeccable Vintage Properties…
Honeywell has signed separate MOUs with Malaysian firms Airod Techno Power (ATP) and Galaxy Aerospace that will further strengthen the…
AirAsia has announced that it will resume international flights from India to Malaysia and Thailand. Flights are now available from…
Embraer and the Brazilian Army have inked a contract to develop and implement Phase Two of the Army's Strategic Program…
The Philippine Air Force (PAF) officially inducted two Turkish-made T129B ATAK attack helicopters and an Airbus Defense and Space C-295…
General Atomics Aeronautical Systems, Inc. (GA-ASI) has been selected to support the Japan Coast Guard's (JCG) RPAS Project. Operations will…
The Royal Thai Navy (RTN) S26T submarine acquisition project from China is at risk of cancellation due to Germany’s refusal…
Headquartered in Singapore with reporters spread across all major regions, GBP Aerospace & Defence is a leading media house that publishes three publications that serve the aerospace and defence sector - Asian Defence Technology, Asian Airlines & Aerospace and Daily News. Known industry-wide for quality journalism, GBP Aerospace & Defence is present at more international tradeshows and exhibitions than any other competing publication in the region.
For over three decades, our award-winning team of reporters has been producing top-notch content to help readers stay abreast of the latest developements in the field of commercial aviation, MRO, defence, and Space.
Copyright 2023. GBP. All Rights Reserved.
Home Defence & Security Space Commercial Aviation Maintence Repair & Overhaul Daily News Events About Us
2024 GBP all rights reserved.