2018 continued to mark a successful year of high and sustainable growth for Vietjet Aviation Joint Stock Company (HOSE code: VJC). In the recent announcement of its business results in 2018, which exceeded its business plan, the new-age carrier maintained its momentum of significant and sustainable growth. More than 23 million passengers were safely served and international routes with regular operation increased to 66.
Vietjet’s business results in 2018 before auditing showed the total revenue of VND52.4 trillion (approx. US$2.26 billion) up 24% year on year which reached 103% of the plan set up at the Shareholders’ General Meeting; Total pre-tax profit reached VND5.83 trillion (approx. US$251 million). Revenue from air transport reached VND33.815 trillion (approx. US$1.46 billion), an increase of 49% compared with the previous year and reached 112% of the plan.
As of 31 December 2018, the company’s cash balance is VND7.161 trillion (approx. US$308.6 million). The Debt to Equity Ratio (DER) is very low at 0.04 times. The Return on Equity (ROE) reached 37.6%. Price to Earning Ratio (P/E) is attractive at 11.5 times.
Vietjet has operated 118,923 flights on 105 routes, including 39 domestic and 66 international routes, covering destinations in Vietnam, Japan, Hong Kong, Singapore, South Korea, Taiwan, Thailand, Myanmar, Malaysia, Cambodia and China. Vietjet’s aircraft are also operated at Dubai and Doha airports. In 2018, the load factor reached over 88.06%, the technical reliability was 99.4% and the On-time Performance (OTP) stood at 84.2%.
Also in 2018, Vietjet began to receive and operate the new-generation A321neo aircraft, which could save up to 16% fuel cost, contributing to Vietjet operating costs in the coming years. As of 31 December 2018, Vietjet’s fleet includes 64 modern aircraft with average age of just 2.82 years.
The airline has been successfully qualified with the 3rd “IOSA International Air Safety” certificate in September 2018 with its safety-operating indicators ranked among the leading airlines in the Asia-Pacific region. Vietjet was awarded the highest ranking for safety with 7-stars in 2018 by the world’s only safety and product rating website AirlineRatings.com.
Vietjet has also been granted many prestigious awards in 2018. This includes the Labor Medal, Vietnam’s Top 50 Listed Companies and Top 40 Most Valuable Brands of Forbes Magazine, Top 50 Airlines for Healthy Financing and Operations of Airfinance Journal, Top 50 Largest Taxpayers in Vietnam, 50 Best Performing Companies, Top 100 Best Working Places in Vietnam and Asian Best Flight Attendant Wardrobe, amongst others.
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