Vietjet earns more than $24M profit

Profit from air transport before tax reached nearly US$18.86 million, while consolidated profit was nearly US$24.261 million.

Ancillary revenue and cargo transportation reached nearly US$840.7 million, an increase of more than 60% compared to 2022, contributing 39% of total air transportation revenue.

By the end of 2023, Vietjet's total assets will reach nearly $3.48 billion. The company's debt-to-equity ratio is only two, whereasthe normal level in the world is three to five times.

The liquidity index of 1.3 times is at a good level in the aviation industry. The balance of cash and cash equivalents now reached more than $202 million, more than 2.7 times higher than the same period last year, ensuring the airline's financial capacity.

Vietjet is also at the forefront of credit ratings, according to the Ministry of Finance.

The company achieved a VnBBB credit rating, which is among the highest among Vietnamese enterprises.

Vietjet's aircraft meet environmentally friendly criteria. Photo by TL

The results are largely thanks to the strategy of maintaining and developing the domestic flight network and focusing resources on expanding international flights.

Last year, Vietjet safely operated 133,000 flights, transporting 25.3 million passengers, including more than 7.6 million international passengers, an increase of 183% compared to 2022.

The airline simultaneously opened 33 new routes. international and domestic routes, bringing the total number of routes to 125, including 80 international routes and 45 domestic routes.

Vietjet is currently the airline that operates the most flights from Vietnam to India and Australia, helping to connect trade and tourism with two countries with great potential.

In the first three months of the year, the company continued to open more direct flights connecting the capital Hanoi with Sydney, bringing the total number of flights connecting Vietnam and Australia to seven.

Prime Minister Pham Minh Chinh (L, 6th) and leaders of ministries and agencies attend the ceremony to announce the opening of the Hanoi-Jakarta (Indonesia) flight. Photo by TL

In the domestic market, the airline opened the Hanoi-Dien Bien route, contributing to bringing tourists back to the historical point where the victory of Dien Bien Phu was made.

The airline's flights achieve an average seat utilization ratio of 87% and technical reliability of 99.72%.

In order to meet operational needs, Vietjet continuously invests in its fleet with new generations of modern, safe, and environmentally friendly aircraft.

The airline currently has 105 aircraft, including wide-body A330s, and continues to be honored by AirlineRatings as one of the safest low-cost airlines in the world.

2023 marks a new development milestone for the airline with an extensive mid-range international flight network to meet domestic transportation needs and continue plans to expand the international flight network.