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Vietjet rumbles aviation market with remarkable growth

August 22, 2019 Aviation No Comments Email Email

Vietjet Aviation Joint Stock Company (“Vietjet”) (HOSE: VJC) has announced remarkable business achievement in the year’s second quarter and the last six months of 2019.

Vietjet achieved VND26,301 billion (USD1.13 billion) in revenue, an increase of 24 per cent over the same period last year. Revenue in the year’s second quarter reached VND12,664 billion (USD545.6 million), increasing 46 per cent over the same period last year.

The business result brought the new-age carrier’s pre-tax profit in the second quarter at VND750 billion (USD32.3 million), an increase of 10.6 per cent over the same period last year. The last six months’ accumulated profit was VND2,397.6 billion (USD32.3 million), increasing 11 per cent. Post-tax profit achieved in the last six months was VND2,084 billion (USD8.9 million), an increase of 4.2 per cent over the same period last year.

In the last six months of the year, passenger aviation market enjoyed 9.4 per cent growth over the same period last year. The local aviation market has become more competitive as several brand new carriers joined the playground. However, Vietjet’s ROE in the last six months was 38.47 per cent, much higher than the 9.7 per cent rate by Vietnam Airlines. This is a positive sign for the effectiveness in equity usage by the new-age carrier.

Figure 1 (blue): Vietjet/ (yellow): Vietnam Airlines

(1st column): REVENUE IN 2019’S 1ST SIX MONTHS – (2nd column): REVENUE IN 2018’S 1ST SIX MONTHS – (3rd column): POST-TAX PROFIT IN 2019’S 1ST SIX MONTHS – (4th month): REVENUE IN 2018’S 1ST SIX MONTHS

Vietjet’s business results show the remarkable growth achieved and at the same time illustrate  ts number one place in Vietnam’s domestic aviation market segment. Vietjet’s revenue from international flights in the second quarter of 2019 was VND7,932 billion (USD340.1 million), approximately equal to total revenue of last year’s second quarter. The figure occupied 62.6 per cent of total Vietjet’s revenue in the year’s second quarter and much higher than the rate of 42.4 per cent in the same period last year.

Figure 2 VIETJET REVENUE STRUCTURE DOMESTIC (BLUE) VS INTERNATIONAL (YELLOW)

(1st column): REVENUE IN 2019’S 1ST SIX MONTHS – (2nd column): REVENUE IN 2018’S 1ST SIX MONTHS – (3rd column): POST-TAX PROFIT IN 2019’S 1ST SIX MONTHS – (4th month): REVENUE IN 2018’S 1ST SIX MONTHS

Vietjet’s business results show the remarkable growth achieved and at the same time illustrate  ts number one place in Vietnam’s domestic aviation market segment. Vietjet’s revenue from international flights in the second quarter of 2019 was VND7,932 billion (USD340.1 million), approximately equal to total revenue of last year’s second quarter. The figure occupied 62.6 per cent of total Vietjet’s revenue in the year’s second quarter and much higher than the rate of 42.4 per cent in the same period last year.

Figure 2 VIETJET REVENUE STRUCTURE DOMESTIC (BLUE) VS INTERNATIONAL (YELLOW)

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