Vietjet’s air transport revenue in 2Q2022 increases by 15% against pre-pandemic level

Vietjet aircraft
(PHOTO: Shutterstock)

Vietjet recently reported that it turned in a “positive business performance in the second quarter and the first half of 2022”. In the year’s second quarter, Vietjet’s total air transport revenue reached VND11,355 billion (approx. US$488 million), increasing by 15 percent against pre-pandemic level in 2019, with its after-tax profit standing at VND36 billion (approx. $1.54 million). Especially, its domestic revenue in 2Q jumped by over 30 percent compared to 2019’s same period, with 53 domestic services.

Vietjet’s consolidated revenue stood at VND11,590 billion (approx. $499 million) and consolidated after-tax profit in Q2 was reported at VND181 billion (approx. $7.8 million).  As for the first-six-month results, the airline’s air transport revenue and its consolidated revenue reached VND14,696 billion (approx. $632 million) and VND16,112 billion (approx. $693 million) respectively, both higher than the pre-pandemic levels in 2019. Overall, Vietjet’s after-tax profit for H1 reached VND76 billion (approx. $3.26 million) while its consolidated profit was VND426 billion ($18.3 million).

Vietjet for the last six months has increased the flight frequency of numerous routes to meet the post-pandemic pent-up travel demand, supporting the recovery of local tourism and economy. It has operated a total of 52,500 flights with 9 million passengers onboard, respectively increasing by 54 percent and 92 percent year on year. The number of flights has particularly increased by 8 percent against the pre-pandemic 2019’s level. In Q2, the airline has operated nearly 33,000 flights and served 6 million passengers, both were remarkably higher than the pre-pandemic’s. The cargo volume reached more than 11,000 tonnes.

Despite revenue breakthrough in Q2 and H1-2022, the after-tax consolidated profit reached VND426 billion, about 85.2 percent percent of the airline’s H1 target due to surging oil prices.

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