Vietjet’s six-month revenue increased by 46% year on year

27-Jul-2017

Vietjet accomplished 54% of the year's profit target upon receiving five brand-new aircraft from Airbus and five wet-leased aircraft together with launching a series of international routes and optimizing solutions efficiently.

Vietjet Aviation Joint Stock Company (HOSE code: VJC) today announces its unaudited results in revenue and profit for the first six months of 2017, which dramatically increased year on year and surpassed its six-month target.

Accordingly, revenue in aviation services in the first six months stood at VND10,743 billion (around USD473 million), an increase of 45.1% year on year and accounted for 108% of the six-month budgeted plan. Profit before tax of the Company from aviation services stood at VND1,090 billion (around USD48 million), an increase of 46% compared to the first half of 2016.

In the year's first six months, the airline operated 5 more brand-new A321 aircraft and 5 wet-leased ones. These 10 additional aircraft have well supported the airline's transportation capabilities during the peak travel season and especially on opening new international routes.

Up to 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 optimized operation costs. Accordingly, its cost of Available Seat-Kilometer excluding fuel (CASK ex-fuel) continued to decrease to 2.23 cents compared to 2.43 cents year on year. Revenue passenger kilometer (RPK) increased from 4.29 cents to 4.42 cents.

Up to June 2017, Vietjet operated 73 domestic and international routes, an increase of 37.7% year on year and achieved 110.6% of the year's target. Vietjet carried out 49,151 flights with the technical reliability rate of 99.55% and on-time performance rate of 85.7%. Other rates for operation safety, technical operations and ground operations had been always among the highest in the Asia-Pacific region. These positive operation safety and service results have entailed a 30% decrease in aircraft insurance cost by the international standards against 2016. Nearly 8.27 million passengers had flown on Vietjet for the first half of the year, an increase of 22.4% year on year with the load factor of 87.7%.

Vietjet has recently confirmed the date to pay the cash dividend rate of 20% and will soon finalize bonus share with 40% upon having the approval from the State Securities Commission of Vietnam.

Recently on July 25, 2017, Vietjet and Japan Airlines also reached a formal comprehensive partnership agreement with the aim of improving customer convenience and the quality of operations and services while enhancing the corporate value of both companies.

For the first six months of 2017, Vietjet welcomed many organizations, investors and analysts in Vietnam and overseas to study and take part in international investment conferences. The airline saw positive feedbacks and interests in the company from domestic and international investors.