Vietjet revenue up in Q2

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Vietjet is said to be expanding its cargo business as volumes increase. (PHOTO: Vietjet)

Vietjet Aviation released its financial statements for the second quarter and the first six months of 2021. In the second quarter 2021, Vietjet’s air transport revenue reached VND2,973 billion (approx. US$129.7 million), recording a 51 percent year-on-year growth thanks to high traveling demand in April. The airline has also sought ways to lift up the cargo sector despite the impact of the fourth wave of COVID-19 in Vietnam this quarter. Vietjet’s consolidated revenue totalled at VND4,337 billion (approx. US189 million) in the second quarter.

Revenue in passenger transport for the first half of the year was recorded at VND5,818 billion (approx. US$253 million), generating a post-tax profit of VND13.7 billion (approx. US$597,500). The airline’s consolidated revenue and consolidated post-tax profit were reported at VND8,386 billion (approx. US$365 million) and VND127 billion (approx. US$5.53 million) respectively, which were both higher than 2020’s.

Vietjet has ventured into financial and project investments aiming to expand its business portfolio in support of the air transport sector while optimising the equity capital during the temporary aviation slowdown. Its revenue in financial and investment activities was reported at more than VND1,756 billion (approx. US$76.5 million).

Vietjet’s total assets reached VND44,000 billion (approx. US$1.9 billion) by the end of June. Its debt-to-equity ratio stayed at as low as 0.73 while the liquidity ratio remained at 1.5, which were considered in the safe zone and a good performance in the aviation industry.

Vietjet has transported more than 4.8 million passengers on 34,000 flights over the first six months of the year. The airline has also focused on refining operation protocols and boosting its cargo operations, resulting in a 40-45 percent year-on-year growth with a total of more than 37,000 tons of cargo delivered.

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