Jetstar Pacific records profit after three years
The general director of the low-cost air carrier Jetstar Pacific (JPA) Le Hong Ha said the airline has recorded a profit for the first time after three years of operation.
Ha said the firm had a profit of more than VND80 billion (nearly US$4 million) in the period of January-September this year, mainly thanks to lower fuel prices and the increase of passengers.
The three investors in Jetstar Pacific are Vietnam Airlines, Qantas Group (Australia) and Jetstar Group - a subsidiary of the Qantas Group.
Recently, the three investors agreed to continue investing in this low-cost carrier to enable it to compete with other low-cost carriers.
General Director Pham Ngoc Minh of Vietnam Airlines said that Jetstar Pacific has overcome many difficulties and now operates at a profit, achieving the goal set by the Vietnamese government and the shareholders. This is the right time for both sides to increase investment, expand the scale and implement the long-term development goals of Jetstar Pacific.
Vietnam Airlines and Jetstar Pacific plan to maintain the market share of the two companies on the domestic market at 70% and develop the fleet of Jetstar Pacific to 30 aircraft by 2020.
CEO Alan Joyce of Qantas Group will continue to support Jetstar Pacific in sales, marketing and international cooperation activities with other Jetstar airlines.
Jetstar Pacific will join Qantas to purchase new Airbus aircraft in the future.