Vietjet eyes consolidated revenue gain by 20% in 2021

Vietjet's Online Annual Shareholder Meeting
(PHOTO: Vietjet)

Avalon-AS2021-APDRVietjet Aviation held its annual general meeting recently to review its business results in 2020, a year of overcoming the pandemic and to seek approval for the airline’s 2020 audit report and 2021 development plan. Following the positive forecast for 2021, Vietjet oriented its 2021 business plan delivering a “Back to the sky” message with a focus on domestic growth while being on standby for the resumption of international market in July 2021. However, taking into account the development of the COVID-19 pandemic afterwards, the airline’s shareholders have passed a Resolution to resettle a more cautious business plan for 2021.

In particular, Vietjet has set the 2021’s targets for air transport revenue at VND15,500 billion (approx. US$670 million) and the consolidated revenue at VND21,900 billion (approx. US$945million), achieving a year-on-year growth of 20 percent. Such 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. Vietjet is ready for the upcoming recovery phase. The airline 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 to improve its productivity and service quality. Vietjet is eyeing to have the passenger load factor reach 80 percent while the on-time performance stands at over 90 percent, and to serve up to 15 million passengers across its flight network.

In addition to more investment into the Vietjet Aviation Academy (VJAA) for an infrastructure and equipment build-up, the airline is also investing in a technology park to welcome the arrival of aviation experts and activities as part of the efforts to make Vietjet one of the top airlines in the world.

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