Vietjet reports US$115 million in Q3 revenue

(PHOTO: Vietjet)

Vietjet Aviation has released its  financial statement for the third quarter of 2021, reporting air transport revenue of more than VND1,365 billion (approx. US$59.2 million) following its efforts to break even. Accumulated revenue reached more than VND6,384 billion (approx. US$277 million) while gross profit was more than VND44.5 billion (approx. US$1.93 million) for the first nine months of 2021. In its consolidated financial report, Vietjet posted its Q32021 revenue at VND2,654 billion (approx. US$115 million) and accumulated revenue for the first nine months of 2021 at VND10,210 billion (approx. US$442.9 million).

Vietjet’s assets totalled more than VND50,949 billion (approx. US$2.21 billion) by the end of September 2021. Its debt-to-equity ratio stayed at as low as 0.8 while the liquidity ratio was at 1.06 – all were within the safety margin and considered good indicators in the aviation industry.

Vietjet has transported about 6.4 million passengers on nearly 37,000 flights over the first nine months of the year, retaining its highest quality service with the OTP rate reaching 99.7 percent. The airline has carried out many flights to fly tens of thousands of medical staff, soldiers and police officers and millions of vaccine jabs and medical equipment to aid the outbreak-stricken localities.

Vietjet also celebrated the first anniversary of the Vietjet Ground Services Center (VJGS), which served up to 4.5 million passengers on 25,217 flights and transported 64,031 tons of cargo. As a result, ancillary revenue reached 112.43 percent of its planned target.

Meanwhile, Vietjet Aviation Academy (VJAA) has increased its e-learning activities to save costs and ensure disease-protection efforts. There have been hundreds of courses provided to over 5,700 learners, including the courses for pilots, cabin crew, flight dispatchers, engineers, and ground services employees. In term of cooperation, the airline has reached an agreement with its strategic partner of Airbus on the delivery of 119 ordered aircraft by the end of 2028. They would also work together to develop Vietjet’s wide-body aircraft fleet in addition to substantial post-pandemic support in maintenance and pilot training.

Vietjet now has resumed all of its routes connecting Hanoi and Ho Chi Minh City with other localities to meet rising demand of traveling fast and safely. The airline is ready to resume regular commercial international flights in the coming time. Vietjet recently has announced the plan to operate three direct services connecting Hanoi, Ho Chi Minh City and Nha Trang with Moscow, Russia starting mid 2022 by Airbus’s modern A330-300 aircraft. This is the first step in realising Vietjet’s ambition to enter the European market, fulfilling the travelling demand between Vietnam and the world and contributing to the country’s economic development.

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