Vietjet reports positive first half 2022

HO CHI MINH CITY, 4 August 2022: As domestic and international travel demand recovers robustly, Vietjet Aviation Joint Stock Company (HoSE: VJC) has reported 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 (USD488 million), increasing by 15% against the pre-pandemic level in 2019, with its after-tax profit standing at VND36 billion (USD1.54 million). Significantly, its domestic revenue in 2Q jumped by over 30% compared to 2019’s same period, with 53 domestic services.

Vietjet’s consolidated revenue stood at VND11,590 billion (USD499 million), and consolidated after-tax profit in Q2 was reported at VND181 billion (USD7.8 million).

As for the first-six-month results, the airline’s air transport revenue and consolidated revenue reached VND14,696 billion (USD632 million) and VND16,112 billion (USD693 million), respectively, higher than the pre-pandemic levels in 2019.

Overall, Vietjet’s after-tax profit for H1 reached VND76 billion (USD3.26 million), while its consolidated profit was VND426 billion (USD18.3 million).

Vietjet, for the last six months, has increased the flight frequency of numerous routes to meet the post-pandemic pent-up in 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% and 92% year on year. The number of flights has particularly increased by 8% against the pre-pandemic 2019’s level.

In Q2, the airline operated nearly 33,000 flights and served 6 million passengers; both were remarkably higher than the pre-pandemic level. 

To promote and take the lead in the reopening between Vietnam and international skies right after the pandemic, Vietjet has rapidly expanded new international routes. It was the pioneering airline to develop an extensive network of 17 direct routes between Vietnam and India – a market of 1.4 billion people, specifically to Delhi, Mumbai, Ahmedabad, Hyderabad and Bangalore. Vietjet has also inaugurated new routes from Ho Chi Minh City and Danang to Busan in South Korea, from Hanoi to Nagoya and Fukuoka, Japan.

In addition to the advanced fleet of A320s and A321s, Vietjet, for the first time, has brought the new generation of modern wide-body aircraft of A330 into operation. Equipped with noise control technology, they have delivered safer and more comfortable flight experiences to the passengers while reducing the take-off and landing frequency in operating airports.

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

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