Vietjet posts profit

BANGKOK, 2 February 2018: Vietjet Aviation reported a net revenue VND42,258 billion (THB58.23 billion) in 2017, an increase of 53.7% year-on-year.

The performance of the public listed company exceeded its annual budget by 0.6%.

The airline announced its consolidated pre-audited financial statement report 2017 stating all indicators were growing strongly compared with 2016 and exceeding the plan approved at the company’s annual shareholders meeting.

Pre-tax profit stood at approximately VND4,755 billion (THB6.55 billion), up 75.9% year-on-year. After-tax profit of the parent company reached VND4,527 billion (THB6.23 billion), equivalent to VND10,065 (THB13.94), earning per share.

The strong performance was driven by fleet expansion that added 17 aircraft in 2017. Vietjet opened 22 new routes (one domestic and 21 international), increasing its total  routes to 82, including 38 domestic and 44 international routes.

Vietjet carried over 17.11 million passengers in 2017. Air transportation revenue reached VND22,577 billion (THB31.11 billion), up 41.8% year-on-year and exceeding the yearly plan by 4.6%.

Up to December 31st, 2017, the fleet consisted of 51 Airbus A320 and A321 aircraft. Vietjet has received 39 aircraft out of the total of 219 aircraft ordered from Airbus and Boeing. On time performance in 2017 was 85.59%.

Cost per available seat km (CASK) excluding fuel decreased to 2.25 US cents, down by 7.3% year-on-year due to efficient cost control in 2017. CASK including fuel cost decreased by 2.27% to 3.79 US cents.

In 2017, Vietjet paid 10% cash dividend, 40% share dividend for 2016 and advanced 20% cash dividend payment for 2017. With its positive business results, Vietjet has increased its 2017 dividend payment from 50% to 60% and prepared for 10% cash dividend payment for 2017 on February 7.