Vietjet enjoys a prosperous 2018

January 25, 2019 - 14:37

Vietjet enjoyed a successful 2018 with high and sustainable business growth.

Vietjet flight attendants. The airline received the best Asian flight attendant wardrobe award in 2018. - VNS Photo
Viet Nam News

HÀ NỘI — Vietjet enjoyed a successful 2018 with high and sustainable business growth.

Last year, Vietjet’s total revenue reached VNĐ52.4 trillion (US$2.25 billion), up 24 per cent year-on-year and surpassing the yearly target set at the previous shareholders’general meeting, according to the airline’s pre-audited business results published on Thursday.

Of the sum, revenue from air transport – its core business – witnessed yearly growth of 49 per cent to more than VNĐ33.81 ($1.45 billion). Revenue from auxiliary products and services grew 57 per cent from 2017, contributing nearly 27 per cent to last year’s total revenue.

As per the data, pre-tax profit Vietjet topped VNĐ5.83 trillion ($250.2 million).

During the year, the carrier operated 118,923 flights, carrying more than 23 million passengers on 105 routes, including 39 domestic and 66 international routes, covering destinations in Việt Nam, Japan, Hong Kong, Singapore, South Korea, Taiwan, Thailand, Myanmar, Malaysia, Cambodia and mainland China.

According to Vietjet, the international network expansion strategy was promoted in order to increase foreign currency revenue from ticket sales and to take advantage of lower fuel price in international markets.

In 2018, the airline’s load factor reached over 88.06 per cent, technical reliability was 99.64 per cent and the on-time performance (OTP) stood at 84.2 per cent.

As of 2018, Vietjet’s fleet comprised 64 modern aircrafts. Also in 2018, Vietjet began to receive and operate the new generation A321neo aircraft which could save up to 16 per cent on fuel costs, contributing to slashing its operating costs in the coming years.

The company received its "IOSA International Air Safety" certificate in September 2018. Vietjet’s safety-operating indicators are among the leading airlines in the Asia-Pacific region and were awarded the highest ranking for safety with 7-stars in 2018 by the world’s only safety and product rating website — VNS