Vietjet airline records positive business results in Q1, 2017

Vietjet Aviation Joint Stock Company recorded positive results for the first quarter of 2017 with its aviation transport revenue standing at VND5,095 billion (US$224.2 million), up 44.2% year on year.

vietjet airline records positive business results in q1, 2017 hinh 0

The low-cost airline said on April 22 that the revenue exceeded target by 10.6%, while revenue proportion for international routes rose sharply. 

Meanwhile, profit rose 6.8% compared to the same period of the previous year. 

Profit before tax stood at VND432.64 billion and profit after tax at VND381.65 billion.

The airline carried 3.7 million passengers, an increase of 29.4% compared to the same period of 2016.

In the first quarter of 2017, Vietjet launched three more international routes, increasing its air routes to 63, with high load factor of 88%, OTP of 87.7%, an increase of 4.1% compared to 2016.

The first quarter of 2017 saw strong growth in its total asset which reached VND21,727 billion, an increase of 17.37% compared to the early year period in which cash and cash equivalents sharply rose to VND2,777 billion.

For the same period of the previous year, cash and cash equivalents stood at approximately VND944 billion. All this showed that the company's cash flow was very healthy. Its equity rose 69.7% from VND3,072 billion to VND5,213 billion.

In 2017, Vietjet plans to operate A320/A321 NEO family which will result in 15% fuel savings.

According to Vietjet Managing Director Luu Duc Khanh, the company operation cost has been within the world's top airlines. 

Within the fírst 90 days of 2017, Vietjet operated 22,353 safe flights, recorded technical reliability at 99.59%, a slight increase of 0.02% compared to 2016. Flight operation,  ground operation and engineering safety indicators were listed in the group of highest quality airlines in the Asia Pacific region.


Related news