Vietjet Q1/2024 after-tax profit up by 209%

In Q1/2024, Vietjet’s air transport revenue was recorded at VND17.76 trillion (approx. US$701 million) while after-tax profit at VND520 billion (approx. US$20.5 million), increasing by 38% and 209% YoY respectively. The airline’s consolidated revenue and after-tax profit were VND17.79 trillion (approx. US$702.4 million) and VND539 billion (approx. US$21.3 million) respectively, growing by 38% and 212% YoY in the given order. During the first three months of the year, Vietjet safely operated 34,500 flights with more than 6.3 million passengers onboard. The airline’s average load factor rate reached 87% and the technical reliability rate 99.6%. Vietjet’s international passenger transport in Q1/2024 has witnessed growth of more than 53% and 61% YoY in terms of numbers of flights and passengers respectively. As of March 31, 2024, Vietjet’s total assets mounted more than VND85.82 trillion (approx. US$3.38 billion). The company’s debt-to-equity ratio was at 1.9 while the liquidity ratio at 1.3, which were both within good ranges of the aviation industry. For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]