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Vietjet’s six-month profit increased by 46% year on year

July 31, 2017 Financial No Comments Email Email

Vietjet Aviation Joint Stock Company (HOSE code: VJC) has just announced its unaudited results in revenue and profit for the first six months of 2017, which posted a significant increase year on year and surpassed its six-month target upon receiving new and wet-leased aircraft together with the launch of new international routes and efficiency solutions.

Revenue in aviation services in the first six months stood at VND10,743 billion (around USD473 million), an increase of 45.1% year on year and accounted for 108% of the six-month budgeted plan. Profit before tax of the Company from aviation services stood at VND1,090 billion (around USD48 million), an increase of 46% compared to the first half of 2016.

In the year’s first six months, the airline operated 5 more brand-new A321 aircraft and 5 wet-leased ones. The 10 additional aircraft have well supported the airline’s transportation capabilities during the peak travel season and especially on the opening of new international routes.

Up to June 2017, Vietjet had 21,578 points of sales covering air ticket distribution and consumer services, an increase of 38% year on year.

The airline is also optimizing its operation costs with its cost of Available Seat-Kilometer excluding fuel (CASK ex-fuel) continuing to decrease to 2.23 cents compared to 2.43 cents year on year. Revenue passenger kilometer (RPK) increased from 4.29 cents to 4.42 cents.

Up to June 2017, Vietjet operated 73 domestic and international routes, an increase of 37.7% year on year and achieved 110.6% of the year’s target. Vietjet carried out 49,151 flights with the technical reliability rate of 99.55% and on-time performance rate of 85.7%.  Other rates for operation safety, technical operations and ground operations has always been among the highest in the Asia-Pacific region. These positive operation safety and service results have entailed a 30% decrease in aircraft insurance cost by the international standards against 2016. Nearly 8.27 million passengers had flown on Vietjet for the first half of the year, an increase of 22.4% year on year with the load factor of 87.7%.

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