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Vietjet’s Six-Month Profit Up By 46%

August 1, 2017 Financial No Comments Email Email

Vietjet Aviation Joint Stock Company (“Vietjet”) has announced its unaudited revenue and profit results for the first half of 2017. Vietjet posted a significant surge compared to previous years and surpassed its six-month target.

Revenue from aviation services in the first six months stood at US$473 million (VND10,743 billion), an increase of 45.1% on last year and accounted for 108% of the six-month budgeted plan. Profit before tax from aviation services stood at US$48 million (VND1,090 billion), an increase of 46% compared to the first half of 2016.

In the first half of 2017, the airline operated with an additional five brand-new A321 aircraft and five wet-leased. These ten additional aircraft contributed to the airline’s transportation capabilities during the peak travel season and assisted with the opening of new international routes.

Until 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 also optimized its operating costs with a decrease in the cost of Available Seat-Kilometer excluding fuel (CASK ex-fuel) to 2.23 cents in comparison to 2.43 cents year-on-year. Furthermore, the Revenue Passenger Kilometer (RPK) increased from 4.29 cents to 4.42 cents.

Vietjet operated 73 domestic and international routes, an increase of 37.7% and achieved 110.6% of the year’s target. The airline carried out 49,151 flights with a technical reliability rate of 99.55% and an on-time performance rate of 85.7%. Other rates for operation safety, technical operations, and ground operations continued to be among the highest in the Asia-Pacific region.

Vietjet carried 8.27 million passengers in the first half of 2017, an increase of 22.4% on 2016, with an average load factor of 87.7%.

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