Vietjet records passenger traffic growth

HO CHI MINH CITY, 7 November 2022: Vietjet Aviation Joint Stock Company’s financial statements for the third quarter of 2022 highlights Vietjet’s lead in the growing domestic and international passenger traffic while promoting local economic recovery and inbound tourism.

In Q3/2022, Vietjet operated more than 35,000 flights with 6.4 million passengers onboard. Domestic passenger transport contributed to the recovery, with flights and passengers increasing by 36% and 44%, respectively, while recovery in international passenger transport is set in motion, reaching about 25% of the pre-Covid-19 level. The total volume of cargo airlifted in Q3 was 11,500 tons.

Vietjet has operated more than 10 new international routes, focusing on the Indian market to bring passengers from big cities in India’s West and Central-Southern region to tourism hubs of Vietnam; Hanoi, Ho Chi Minh City, Danang and Phu Quoc island. As of 30 September 2022, Vietjet has operated 84 routes, including 49 domestic and 35 international routes.

During the first nine months of 2022, the accumulated flights and passenger traffic reached 87.7 thousand and 15.4 million, respectively, representing a surge of 150% and 225% year-on-year.

Vietjet reports its Q3/2022 revenue of VND10,256 billion (separated) and VND11,600 billion (consolidated), leaping by 652% and 337% YOY. Following its nine months of 2022, Vietjet has completed 85% of its revenue plan.

As of 30 September 2022, Vietjet has assets of VND 67,470 billion. The debt-to-equity ratio stayed at 1.1, which is considered a good indicator in the aviation industry.

Regarding the airline transport business, Vietjet recorded an after-tax loss of VND 767 billion (separated) and an after-tax profit of VND 43 billion (consolidated). Losses for air transport were down by more than 50% compared to 2021. However, a hike in jet fuel price at an average of USD130 a barrel compared to the average USD80 a barrel in 2019 impacted the airline’s business.

Vietjet is one of the airlines leading the global recovery with a revenue growth rate of 150% for the first nine months of 2022.

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