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Vietjet Announces Five-year Plan to Enable Sustainable Growth

April 24, 2017 Aviation No Comments Email Email

Vietjet is to embark on a Five-year Plan to enable sustainable growth beginning 2017. The ambitious plan was announced at the Annual Shareholders’ Meeting of the Vietjet Aviation Joint Stock Company in Ho Chi Minh City.

The program, focusing on sustainable development, involves investments in enhancing internal human resources; protecting the environment; carrying out corporate social responsibilities; complementing national tourism development strategy; promoting local economic development; popularizing cultural practices and aviation civilization among passengers and in the community.

In 2017, Vietjet is committed to operating the airline with top priorities on safety and reliability, continuing to innovate and improve service quality and operation efficiency and managing the recently listed company in accordance with international standards and the Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS).

“Vietjet is ready to conquer new heights. I am confident that there is a bright future in the air and Vietjet is making every effort to bring it closer,” said Vietjet Chairwoman Nguyen Thanh Ha.

The meeting also reviewed the operation of the fast growing new-age carrier in 2016, approved the business plan for 2017 as well as the contents related to management and administration.

ACHIEVEMENTS IN 2016

Report of business results in 2016 submitted to the meeting showed that Vietjet achieved positive business results in 2016. The airline operated 84,455 safe flights, recorded high percentage of OTP at 83.57% and of technical reliability at 99.57%, being listed in the top airlines that operate A320/A312 family in the region. Flight operation, ground operation and engineering safety indicators are listed in the group of highest quality airlines in the region. The airline also recorded in 2016 its turnover of 27,499 billion dong (USD1.21 billion), after tax profit of 2,496 billion dong (USD109 million), an increase of 38.6 percent and 113.2 percent respectively compared to 2015, exceeding 3 percent and 9 percent respectively over the target. Earnings per share stood at 9,586 dong (USD0.42).

In 2016, Vietjet received 12 new aircraft, increasing its fleet to 41 aircraft including 30 A320 and 11 A321 aircraft, transporting 14.05 million passengers, an increase of 50.9% compared to 2015, leading the Vietnam domestic market.

 

AGREEMENT OF SHAREHOLDERS ON ACTION PLAN IN 2017

All reports and proposals presented at the Vietjet Shareholders’ Meeting were approved at the rate of 100%, including: + Agree to allocate profit with an average rate of 118.71%. Vietjet expects to pay 10% dividend in cash on May 10, 2017. In addition, the company will also pay a share dividend of 40% to shareholders to bring the best value to shareholders. + Set revenue target of 42,018 billion dong (USD1.85 billion), profit after tax of 3,395 billion dong (USD149 million) and pay cash and stock dividends of 50% in 2017. + Agree to request for scrapping the foreign ownership cap

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