Vietjet Air generated US$84.7 million group profit before tax in first half of 2017

Press Release by : Vietjet Air
                              c/o Media Services HK
Edited by : KUCINTA SETIA
Distributed to All Press & Travel Professionals

On 2 August 2017, Vietjet Air or Vietjet, short for Vietjet Aviation Joint Stock Company, announced its unaudited group financial statements for the first half of 2017 featuring substantial target exceeding growth compared to the previous period. In first half of 2017, Vietjet generated USD84.7 million group profit before tax, a 44.7 per cent increase year on year.

Following the release of the unaudited financial statements for the first half of 2017 last week, Vietjet’s overall revenue in the period stood at USD730.7 million, an increase of around 31 per cent compared to previous period. For Q2/2017, revenue reached USD503 million, an increase of 89 per cent year on year. The 2^nd quarter’s group profit before tax stood at around USD66.1 million.

Especially, growth in passenger carriage on international routes increased by nearly 130 per cent, making it the main momentum for the quarter’s growth. Also, revenue in aviation carriage in the first six months of 2017 stood at US$478.9 million - an increase of 45.1 percent compared to same period last year. The company’s profit before tax from aviation carriage reached more than US$48.6 million, an increase of 46 per cent year on year.

In  the second quarter of 2017, Vietjet received five more brand-new A321 aircraft from Airbus and generated US$250.6 million revenue from aircraft sale. Up to 30 June 2017, Vietjet’s total assets reached US$1,112.1 million, a 50.8 percent increase, with owners’ equity reaching US$ 355.04 million, an increase of 130 per cent year on year.

As at 30 June 2017, Vietjet operates 30 A320 aircraft and 15 A321 aircraft on 73 domestic and international routes, an increase of 13 routes compared to that in 31 December 2016 and an equivalence of 37.7 per cent increase year on year. It is also a 110.6 per cent increase over the year’s target. Vietjet carried 8.27 million passengers, an increase of 22.4% year on year, on 49,151 flights with an average load factor of around 88 per cent; the technical reliability rate of 99.55% and on-time performance rate of 85.7%. Other index in operation safety, technical operations and ground operations were among the highest in the Asia-Pacific region.