Vietjet reports positive performances in H1

August 02, 2022 - 07:06
The airline’s air transport revenue and its consolidated revenue reached over VNĐ14.69 trillion and VNĐ16.11 trillion respectively in the first six months this year.
A Vietjet plane takes off from Tân Sơn Nhất International Airport in HCM City. — Photo courtesy of Vietjet

HCM CITY — As the domestic and international travel demand recovers robustly, Vietjet Aviation JSC (HoSE: VJC) has reported a positive business performance in the first half of 2022.

In the year’s second quarter, Vietjet’s total air transport revenue surpassed VNĐ11.35 trillion (US$488 million), increasing by 15 per cent against pre-pandemic level in 2019, with its after-tax profit standing at VNĐ36 billion.

Its domestic revenue in Q2 jumped by over 30 per cent compared to 2019’s same period, with 53 domestic services.

Vietjet’s consolidated revenue stood at VNĐ11.59 trillion and consolidated after-tax profit in Q2 hit VNĐ181 billion.

As for the first-six-month results, the airline’s air transport revenue and its consolidated revenue reached over VNĐ14.69 trillion and VNĐ16.11 trillion respectively, both higher than the pre-pandemic levels in 2019.

Overall, Vietjet’s after-tax profit for H1 topped VNĐ76 billion while its consolidated profit stood at VNĐ426 billion.

In the first half of 2022, Vietjet increased the flight frequency of numerous routes to meet post-pandemic pent-up in travel demand, supporting the recovery of local tourism and the economy.

It operated a total of 52,500 flights with 9 million passengers onboard, respectively increasing by 54 per cent and 92 per cent year-on-year.

However, the company's after-tax consolidated profit in H1 reached VNĐ426 billion, equivalent to 85.2 per cent of its target due to surging oil prices.

Vietjet paid a total of VNĐ2.3 trillion to the Government including taxes and indirect and direct fees for the first half of 2022.

Vietjet is set to continue its stringent cost reduction measures and push ahead digitalisation projects to optimise operation costs.

It will also take advantage of the Government’s supporting policies including a 50 per cent take-off and landing fee waiver and a reduction of environmental protection tax on jet fuel.

It also aims to accelerate the recovery after the pandemic and in the remaining months of 2022, joining with localities and the whole country to step towards the adaptation period for development and integration. — VNS