HO CHI MINH CITY, 4 May 2022: Vietjet Aviation Joint Stock Company says it kicked off 2022 with a great performance in the first quarter of 2022, reporting a leap of 113% in pre-tax profit.<\/p>\n\n\n\n
The year-on-year improvement was mainly due\nto the rapid recovery of passenger transport and robust cargo business, which\ngrew by 76% and 94%, respectively, during the first quarter.<\/p>\n\n\n\n
<\/figure><\/div>\n\n\n\n
In the first quarter, Vietjet\u2019s\nconsolidated revenue reached USD197 million, while the after-tax profit was\nUSD10.6 million increasing by 12% and 98% YOY, respectively.<\/p>\n\n\n\n
Regarding its airline transport business,\nVietjet\u2019s revenue for 1Q was USD145 million, helping nail the after-tax profit\nof the parent company at USD1.7 million.<\/p>\n\n\n\n
Vietnam\u2019s aviation and tourism sectors have\nfully reopened since late last year to meet pent-up travel demand. During the\nfirst quarter of 2022, Vietjet resumed its entire domestic network and\nrelaunched scheduled international services. It has operated 20,000 flights\ncarrying more than 3 million passengers on 60 domestic and international routes.<\/p>\n\n\n\n
The airline\u2019s flights and passenger uplift\nin 1Q2022 already passed 50% and 55%, respectively, of the 2021 performance,\nmarking a milestone of strong recovery post-Covid-19 pandemic. Regarding cargo\ntransport, Vietjet has airlifted more than 12,500 tons of cargo in the first\nquarter of this year.<\/p>\n\n\n\n
Vietjet also reports it has deployed the\nfirst of two A330s and is expected to add a third A330 later this year. <\/p>\n\n\n\n
The airline also announced its 2021 audited\nfinancial statement, with the parent company reporting revenue of USD394\nmillion and an audited post-tax profit increase by 91% over the compiled\nfinancial statement due to gains in financial activities.<\/p>\n\n\n\n
Meanwhile, Vietjet\u2019s consolidated revenue\nand after-tax profit in 2021 reached USD556 million and USD3.47 million,\nrespectively. Rising costs from deferred income taxes resulted in a lower\nconsolidated after-tax profit than in the 2021 compiled statements.<\/p>\n\n\n\n
As of 31 December 2021, Vietjet\u2019s assets\ntotalled nearly USD2.25 billion. Its debt-to-equity ratio stayed at 0.9 while\nthe liquidity ratio was at 1.6, which were considered good indicators in the\naviation industry.<\/p>\n\n\n\n
In 2021, Vietjet operated nearly 42,000\nflights across its network with more than 5.4 million passengers on board. The\nairline has reported over 66,000 tons in cargo transport, achieving fast growth\nwith cargo revenue, in particular, rocketing by over 200% YoY.<\/p>\n","protected":false},"excerpt":{"rendered":"
HO CHI MINH CITY, 4 May 2022: Vietjet Aviation Joint Stock Company says it kicked off 2022 with a great performance in the first quarter of 2022, reporting a leap of 113% in pre-tax profit. The year-on-year improvement was mainly due to the rapid recovery of passenger transport and robust cargo business, which grew by 76% […]<\/p>\n","protected":false},"author":22,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[469,17],"tags":[],"class_list":{"0":"post-204392","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-airlines","7":"category-vietnam"},"yoast_head":"\n
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