(Ho Chi Minh City, August 1st, 2019) - In the first 6 months of 2019, Vietjet’s air transport revenue continued growing by 22%, air transport profit increased by 16% year on year.
According to Vietjet’s business results in the first half of 2019, air transport revenue was VND20,148 billion, increased by 22% and profit before tax was VND1,563 billion, an increase of 16% year on year. Consolidated results included aircraft trading, consolidated revenue reached VND26,301 billion, up 24% and profit before tax was VND2,398 billion, up 11% year on year.
In the first half of 2019, Vietjet operated 68,821 flights, equivalent to 45% of total flights operating by all the Vietnamese airlines, transported 13.5 million passengers in all network. Vietjet maintained its leading position in domestic transportation with 44% market share in the first 6 months.
The international market has had a large room to grow, its good profit margin thanks to ancillary revenue, a low fuel cost advantage and an increase in foreign currency sources. Correspondingly, the number of passengers in international routes grew by 35% to approximately 4 million passengers. The proportion of international revenue surpassed domestic revenue, reached 54% of total air transport revenue. Ancillary and cargo revenue was VND5,474 billion, the proportion increased from 21% last year to 27% this year, mainly thanks to the contribution from the growth of international routes.
During Q1 & Q2/2019, Vietjet has opened 9 international routes to Japan, Hong Kong, Indonesia, China and 3 domestic routes, which helped increase the total number to 120 routes, including 78 international routes and 42 domestic ones. The flight network has covered destinations in Vietnam and international to Japan, Hong Kong (China), Singapore, South Korea, Taiwan, Thailand, Myanmar, Malaysia, Cambodia, China, etc. Vietjet aircraft also have been operated at Dubai, Doha airports…
About other operating results, the revenue passenger kilometers (RPK) stood at 16.3 billion, up 22% year on year, the load factor was averagely 88%, the technical reliability was 99.64% and on-time performance (OTP) reached 81.5%.
In the first 6 months, Vietjet’s equity reached to VND15,622 billion, up 32% year on year. Total assets were VND44,461 billion, up 30% year on year; including VND21,955 billion long-term assets, accounting for 49% of total assets. Debt to Equity ratio was 0.50, which was positive compare to 0.64 of last year. Annual General Shareholders’ Meeting in April decided to pay 2018 dividend at the rate of 55%, higher than the plan of 50% approved at the annual shareholders’ meeting last year.
In the first half of 2019, Vietjet also introduced new version of Vietjet Air apps which integrated Vietjet SkyClub membership program with many incentives and utilities including buying air tickets quickly on smartphones, hunting VND0 tickets every Friday, free payment fees…
Vietjet Aviation Academy at Saigon High-Tech Park located in Ho Chi Minh city is a international standard, modern training facility with equipment, programs of European Union Aviation Safety Agency (EASA) standards, which organized 250 courses for 5,623 pilots, cabin crews, engineers, aviation staffs…in the first 6 months. Simulator (SIM) at Vietjet Aviation Academy has started operation since November 2018, so far it has been trained 3,178 hours for 2.809 trainees and teachers. Vietjet’s SIM center has obtained ATO level 2 certification from EASA, the world’s leading standards.
Especially, Vietjet is one of the few foreign enterprises and the only Vietnamese becoming a member of Japan Business Federation – Keidanren, an organization with a membership comprised of the world’s, Japanese companies. Vietjet’s good operation, business results were recognized by many domestic and foreign prestigious awards, such as HR Asia – Best company to work for in Asia 2019 award, “The Best Service Foreign Low Cost Carrier” award in South Korea, Vietnam’s the best Vietnamese 50 listed companies by Forbes, etc.
With positive business results, regional and worldwide flight network expansion plan, together with the ability to manage costs, operation quality, Vietjet expects to maintain positive growth in the next 3 years that Board of Management reported at Annual General Shareholders’ Meeting, the leading position in term of domestic transport, effectively international routes expansion. Vietjet also considers opportunities for investment in infrastructure, terminals, technical services, ground services, training, promoting efficiency, advantages of the airline when expanding to provide aviation services.