Vietjet will add three more international services to its expanding international flight network, connecting Hanoi to Siem Reap (Cambodia) and Jakarta (Indonesia), and Ho Chi Minh City to Shanghai (China) from this December. The airline will also operate Ho Chi Minh City – Dien Bien route by the year-end period.
The new route linking Ho Chi Minh City with Shanghai (Pudong International Airport) enters into service from December 1st, 2023 with seven round-trip flights per week. The Hanoi – Jakarta route will be inaugurated on December 10, 2023 with four round-trip flights per week on Mondays, Wednesdays, Fridays, and Sundays. From December 15, 2023, Vietjet will also launch Hanoi-Siem Reap service, connecting Noi Bai International Airport to Siem Reap-Angkor International Airport (SAI) with seven round trips per week. In Vietnam, Vietjet launches Ho Chi Minh City – Dien Bien route from December 2, 2023. The two-hour service will operate thrice weekly on Tuesdays, Thursdays, and Saturdays.
Vietjet reaches 95% annual revenue target
Vietjet Aviation Joint Stock Company (HoSE: VJC) has reported impressive performance over the first nine months of 2023. In Q3/2023, Vietjet safely operated 36,000 flights and transported 6.8 million passengers including 2.3 million international travelers – an increase by 10% over the third quarter of the pre-pandemic 2019 and up to 127% YoY.
During the first nine months of 2023, Vietnam welcomed 23.7 million international passengers through its airports, skyrocketing by 267% YoY. In particular, Vietnamese airlines carried 11.5 million travelers of which 51% or 5.9 million flew with Vietjet, greatly supportinginbound tourism and international investment. The total transported cargo volume reached 20,300 tones, growing by 76% YoY. Vietjet accounted for 23% of the cargo market share among Vietnamese airlines.
The airline, in Q3/2023, opened seven new international routes, bringing the total number of routes to 125 (45 domestic and 80 international routes). It is the first airline to have flights connecting Vietnam with the five largest cities in Australia, including Perth, Adelaide, Brisbane, Melbourne, and Sydney.
Vietjet’s separate and consolidated revenues were reported at VND13,548 trillion (approx. US$551.38 milion) and VND14,235 trillion (approx. US$579.34 million) respectively in Q3/2023, increasing by 32% and 23% YoY. Separate and consolidated after-tax profits reached VND579 billion (approx. US$23.58 million) and VND55 billion (approx. US$2.23 million) respectively, up by 175% and 30% YoY.
Vietjet’s international passenger transport continued to witness rapid growth, increasing by 201% YoY. It accounted for more than 57% of the total passenger revenue and 35% of the total number of flights and passengers. Vietjet also focused on ancillary and cargo revenue, which had relatively high profit margins. Their revenue, which reached VND5,029 billion (approx. US$204.87 million) in total, accounted for 40% of the airline’s total air transport-related revenue and grew by 26% YoY and 77% over Q3/2019’s.