Friday, October 20 2017

VietNamNews

Vietjet’s pre-tax profit rises by 45%

Update: August, 02/2017 - 16:00
Passengers get off from a Vietjet’s airline. — VNS Photo
Viet Nam News

HÀ NỘI – Vietjet Aviation Joint Stock Company (HOSE code: VJC) posted a pre-tax profit of US$84.7 million in the first half of 2017, a year-on-year rise of 45 per cent.

The company’s revenue in the period stood at $730.7 million, an increase of 31 per cent compared to previous period, shows its unaudited business results, which were released last week.

Vietjet’s revenue in the second quarter reached $503 million, an increase of 89 per cent year on year, while its pre-tax profit for the same period hit around $66.1 million.

In the first six months of 2017, the company’s growth in passengers on international routes rose by 130 per cent, making it the main momentum for last quarter’s growth, Vietjet said in its statement. As of June 30, Vietjet’s total assets were around $1.1 billion, representing an annual rise of 50.8 per cent, while its owners’ equity reached $355.04 million, an increase of 130 per cent year on year.

Around 8.27 million passengers flew on Vietjet in the first half of 2017, an increase of 22.4 per cent year on year, with a load factor of 87.7 per cent, as per the latest data. From January to June, the carrier operated 49,151 flights, with a technical reliability rate of 99.55 per cent and on-time performance rate of 85.7 per cent. In July, Vietjet broke ground for the construction of Vietjet Aviation Academy in HCM City’s Saigon Hi-Tech Park. The first feature of the academy – full flight simulator – is expected to be ready for operation in the next 12 months.

Last month, Vietjet and Japan Airlines also reached a formal comprehensive partnership agreement aimed at improving customer convenience, the quality of operations and services, as well as enhancing the corporate value of both companies. – VNS

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