Vietjet sees positive performance in nine months | Business



Budget airline Vietjet reports positive results in the first three quarters of 2021. (Photo courtesy of Vietjet)

Hanoi (VNA) – Low-cost carrier Vietjet recorded positive results in the first three quarters of 2021, with gross profit totaling 44.5 billion VND (1.93 million USD), according to its latest financial statement.

The airline reported air travel revenue of more than VND 1.36 trillion ($ 59.2 million) in the third quarter of the year, following its efforts to break even.

In its consolidated financial report, Vietjet recorded a turnover of 2.65 billion VND from July to September and a cumulative turnover for the first nine months of 2021 at 10,210 billion VND.

Vietjet’s assets stood at nearly 50.9 trillion dong at the end of September. Its debt-to-equity ratio remained as low as 0.8 while the liquidity ratio was at 1.06 – all of them were within the safety margin and were considered good indicators in the aviation industry.

The carrier carried around 6.4 million passengers on nearly 37,000 flights in the first nine months of the year, maintaining its highest quality service with an on-time performance (OTP) reaching 99.7%. All Vietjet flights strictly followed COVID-19 preventive regulations.

Vietjet sees positive performance in nine months hinh anh 2Vietjet reports air transport revenues of over 1.36 trillion VND (US $ 59.2 million) in the third quarter of the year, following its efforts to break even. (Photo courtesy of Vietjet)

Vietjet also celebrated the first anniversary of the Vietjet Ground Service Center (VJGS), which served up to 4.5 million passengers on 25,217 flights and carried 64,031 tonnes of cargo.

The airline has vigorously invested in technology adoption and digital transformation, overhauled and improved system operating protocols while improving cost management and fuel savings in the third quarter.

Meanwhile, Vietjet Aviation Academy (VJAA) has increased its e-learning activities to reduce costs and ensure pandemic prevention efforts. Hundreds of courses have been delivered to more than 5,700 learners, including courses for pilots, cabin crew, flight dispatchers, engineers and ground service employees.

In terms of cooperation, the airline has reached an agreement with its strategic partner Airbus on the delivery of 119 planes on order by the end of 2028. They would also work together to develop Vietjet’s wide-body aircraft fleet. in addition to significant post-pandemic support for maintenance and pilot training.

Vietjet has now resumed all of its routes connecting Hanoi and Ho Chi Minh City with other locations to meet the growing demand for fast and safe travel. The airline is set to resume regular international commercial flights in the near future.

Vietjet recently announced plans to operate three direct services connecting Hanoi, Ho Chi Minh City and Nha Trang to Moscow, Russia, from mid 2022 on the modern Airbus A330-300 aircraft. This is the first step in realizing Vietjet’s ambition to enter the European market, meet the demand for travel between Vietnam and the world and contribute to the country’s economic development./.



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