{"id":221103,"date":"2023-05-12T06:15:00","date_gmt":"2023-05-11T23:15:00","guid":{"rendered":"https:\/\/www.ttrweekly.com\/site\/?p=221103"},"modified":"2023-05-12T08:47:00","modified_gmt":"2023-05-12T01:47:00","slug":"vietjet-reports-strong-q1-performance","status":"publish","type":"post","link":"https:\/\/www.ttrweekly.com\/site\/2023\/05\/vietjet-reports-strong-q1-performance\/","title":{"rendered":"Vietjet reports strong Q1 performance"},"content":{"rendered":"\n

HO CHI MINH CITY, 12 May 2023: Vietjet Aviation Joint Stock Company has recorded its positive performance in Q1\/2023, resulting from stable domestic flight operation and expansion of the international network.<\/p>\n\n\n\n

According to the Q1\/2023 financial statements, Vietjet\u2019s air transport revenue reached VND12,880 billion (USD553 million) while the after-tax profit was VND168 billion (USD7.2 million), increased by 286% and 320% YoY respectively. Ancillary revenue, in particular, was reported at VND4,312 billion (USD185 million), accounting for more than 33% of the revenue.<\/p>\n\n\n

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\"\"<\/figure>\n<\/div>\n\n\n

The company\u2019s consolidated revenue and after-tax profit were VND12,898 billion (USD554 million) and VND173 billion (USD 7.4 million), respectively.<\/p>\n\n\n\n

In the first three months of the year, Vietjet has operated 31,300 flights and transported nearly 5.4 million passengers, growing by 57% and 75% YoY respectively. The airline\u2019s load factor averaged 85%, while the technical reliability rate was 99.59%.<\/p>\n\n\n\n

Vietjet\u2019s air cargo volume in the quarter totalled more than 14,800 tons, up by 20% YoY.<\/p>\n\n\n\n

International passenger transport remained the highlight, accounting for nearly 45% of the total passenger transport revenue and 30% of flight and passenger numbers.<\/p>\n\n\n\n

As of 31 March 2023, the airline’s assets totalled more than VND69,200 billion (USD2.96 billion), with the debt-to-equity ratio at one while the liquidity ratio at 1.3, both were staying within the safe range of the aviation industry.<\/p>\n\n\n\n

Vietjet has paid up to VND1,053 billion (approx. USD45 million) of direct and indirect taxes, fees, and charges to the State.<\/p>\n\n\n\n

In Q1\/2023, the airline introduced 10 new routes (four domestic and six international), bringing the total routes to 105 (55 domestic and 50 international).<\/p>\n\n\n\n

Since early 2023, Vietjet has increased flights connecting Hanoi and HCMC with other localities to meet the travel demand for family reunions and added more flights to tourist destinations.<\/p>\n\n\n\n

The airline has launched new international routes from Vietnam to India, Kazakhstan and Australia. It also added new destinations in high-performing markets like Japan, South Korea and Thailand, attracting investment and tourism to Vietnam.<\/p>\n\n\n\n

The airline expects to expand the fleet to 87 aircraft, operating 139,513 flights with 25.7 million passengers onboard in 2023.<\/p>\n\n\n\n

A newly-introduced Skyboss Business product on the A330 aircraft and the loyalty programme SkyJoy both received positive feedback from passengers. Skyboss Business passengers are gradually increasing, while SkyJoy has over 3 million members.<\/p>\n","protected":false},"excerpt":{"rendered":"

HO CHI MINH CITY, 12 May 2023: Vietjet Aviation Joint Stock Company has recorded its positive performance in Q1\/2023, resulting from stable domestic flight operation and expansion of the international network. According to the Q1\/2023 financial statements, Vietjet\u2019s air transport revenue reached VND12,880 billion (USD553 million) while the after-tax profit was VND168 billion (USD7.2 million), […]<\/p>\n","protected":false},"author":22,"featured_media":221131,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[469,17],"tags":[],"class_list":{"0":"post-221103","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-airlines","8":"category-vietnam"},"yoast_head":"\nVietjet reports strong Q1 performance - TTR Weekly<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ttrweekly.com\/site\/2023\/05\/vietjet-reports-strong-q1-performance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vietjet reports strong Q1 performance - TTR Weekly\" \/>\n<meta property=\"og:description\" content=\"HO CHI MINH CITY, 12 May 2023: Vietjet Aviation Joint Stock Company has recorded its positive performance in Q1\/2023, resulting from stable domestic flight operation and expansion of the international network. 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