Vietjet to boost flight capacity on Australia routes; Airline commits to international network expansion

Vietjet will increase flight frequency for flights between Vietnam’s Ho Chi Minh City with Melbourne and Sydney from thrice weekly services to four weekly return flights each, starting this September. Accordingly, flights between Ho Chi Minh City and Melbourne will increase to four weekly return flights per week from September 17, 2023. The flights from Ho Chi Minh City to Melbourne operating every Tuesday, Thursday, Saturday, and Sunday take off at 10:55 am and land at 10:35 pm (local time). The return flights from Melbourne to Ho Chi Minh City operating every Monday, Wednesday, Friday, and Sunday take off at 12:30 am and land at 6:30 am (local time). The Ho Chi Minh City – Sydney route will also have four return weekly flights from September 18, 2023. The flights from Ho Chi Minh City to Sydney every Monday, Wednesday, Friday and Sunday take off at 07:30 pm and land at 07:20 am (local time). The flights from Sydney to Ho Chi Minh City every Monday, Tuesday, Thursday, and Saturday take off at 11:15 am and land at 04:30 pm (local time). Vietjet commits to international network expansion On April 26, 2022, Vietjet Aviation Joint Stock Company (HoSE: VJC) successfully organised its General Meeting of Shareholders (GMS) and announced its upbeat growth plan for this year. The GMS has set the targets for Vietjet to maintain its market leader’s position in terms of passenger volume and efficiency in Vietnam; reaching agreements with aircraft manufacturers Airbus and Boeing to ensure on-time delivery; expanding business activities in ground services, training services and digital business; and optimising operations and financial solutions to cut costs while improving efficiency. The GMS has also agreed on the goals of making Vietjet a leading airline in digital technology; raising capital to meet the development demand; and prioritising on asset growth and financial capability improvement, laying out the foundation for a fruitful and sustainable development of Vietjet. Vietjet plans to expand its fleet of 87 aircraft (including nine Airbus A330 widebody aircraft), expecting to operate 139,513 flights with 25.7 million passengers onboard. Its targeted consolidated revenue for 2023 is over VND50,178 billion (approx. US$2.14 billion) while after-tax profit is set at VND1,000 billion (US$42.8 million). In 2022, Vietjet operated more than 116,261 flights (up by 186% YoY) and transporting 20.5 million passengers (up by 283% YoY), leading the domestic market in terms of passenger volume. Vietjet has also brought its widebody Airbus A330 fleet into operation to effectively fly long-range routes to Kazakhstan, India and Australia. The airline has successfully worked on the tablet check-in project, helping ground operation staff to flexibly process check-in for the passengers, as well as integrating HD Insurance and Galaxy Pay services to the system to offer more options to the passengers.  It has also launched the brand-new loyalty program SkyJoy with endless rewards together with the in-flight POS payment system for ancillary purchase. The 2022 audited financial statements reported that Vietjet’s consolidated revenue reached more than VND40,142 billion (approx. US$1.71 billion) (up by 212% YoY). The long-term assets increased by over US$200 million of worth. The airline’s total assets were at VND68,036 billion (approx. US$2.91 billion) with the debt-to-equity rate at nearly 1.3 which was considered to be good in the aviation industry. Its payment of direct and indirect taxes, fees and charges to the State budget totalled VND4,350 billion (approx. US$186.3 million). For Editorial Inquiries Contact: Editor Matt Driskill at [email protected] For Advertising Inquiries Contact: Head of Sales Kay Rolland at [email protected]