Vietjet sets 2021 revenue target of $945million

June 29, 2021 - 18:00
Vietjet also strives to achieve an air transport revenue of VNĐ15.5 trillion (US$670 million) by the year-end. 


Vietjet President and CEO Nguyễn Thị Phương Thảo delivers her speech at the meeting. — Photo courtesy of Vietjet 

HCM CITY - Vietjet Aviation Joint Stock Company (HoSE: VJC) targets a consolidated revenue of VNĐ21.9 trillion (US$945million) in 2021, achieving year-on-year growth of 20 per cent.

In particular, Vietjet will strive to achieve an air transport revenue of VNĐ15.5 trillion ($670 million) by the year-end. 

These figures were announced at the company's Annual General Meeting of Shareholders 2021 in HCM City on Tuesday. 

Such goals will be mainly driven by an exponential increase in cargo revenue, new services in air transport, personnel training and aircraft maintenance and several investments in projects and finance, according to Vietjet. 

Vietjet will keep revolving around its customer-focused strategy while striving for innovation and creativity. It is expected to digitalise every service available and operation protocols, growing business while improving its productivity and service quality.

In 2021, it is aiming to have its passenger load factor reaching 80 per cent, on-time performance standing at over 90 per cent, and to serve up to 15 million passengers across its flight network.

Vietjet’s President and CEO Nguyễn Thị Phương Thảo said: “As a better future lies ahead, we’ll work hard and relentlessly to make it come closer.”

In his speech at the event, General Director of Civil Aviation Authority of Vietnam Đinh Việt Thắng praised Vietjet’s enormous efforts to remove obstacles and sustain its business during the pandemic, especially in abiding by strict COVID-19 prevention regulations.

He said that the company had played an active role in many of the Government’s campaigns including repatriating Vietnamese overseas and airlifting disease prevention equipment.

Deputy Minister of Transport Lê Anh Tuấn said he believed that Vietjet would be able to stay on this track once the pandemic is over. 

During the event, Vietjet shareholders also allowed the Board of Directors (BOD) to decide on a plan to raise charter capital through private placement of shares at a maximum of 15 per cent of the charter capital in order to guarantee sufficient resources for a safe and efficient comeback of Vietjet.

The BOD will also consider a $300 million international bond offering in 2021-22 to allow Vietjet to improve its financial position and to stay on track of sustainable growth.

The shareholders also passed an employee stock ownership plan (ESOP) to issue up to 10 million shares. It is expected to give a boost to innovation and creativity, encouraging the working spirit and employee retention for the sake of Vietjet’s development. — VNS