Vietjet posts spectacular 2018 performance
Vietjet posts spectacular 2018 performance
New-generation airline Vietjet maintained high and sustainable growth in 2018. Vietjet's total number of passengers reached more than 23 million and the number of international flights increased to 66.
Vietjet Aviation Joint Stock Company (VJC) has announced its business results for 2018, which were much better than expected. Accordingly, his total revenue reached VND52.4 trillion ($2.3 billion), up 24 per cent on-year and 103 per cent compared to the plan. Total pre-tax profit reached VND5.83 trillion ($253.5 million). Air transport revenue reached VND33.815 trillion ($1.47 billion), up 49 per cent on-year and completing 112 per cent of the plan. Ancillary revenue increased by 57 per cent, with an increase of non-core business revenue from 25 per cent in 2017 to nearly 27 per cent in 2018.
The company's cash balance as of December 31, 2018 reached VND7.161 trillion ($311.35 million). The debt to equity ratio is very low, at 0.04x. Return on equity (ROE) reached 37.6 per cent. Price to earnings ratio (P/E) per share is attractive at 11.5.
Vietjet operates 118,923 flights along 105 routes, including 39 domestic routes and 66 international ones, covering destinations in Vietnam, Japan, Hong Kong (China), Singapore, South Korea, Taiwan (China), Thailand, Myanmar, Malaysia, Cambodia, China, and also Dubai, Doha, and Australia. Vietjet's international network development strategy will collect more foreign currencies from ticket sales and international fuel prices which are lower than in the domestic market.
In 2018, the seat using rate reached over 88.06 per cent, while technical reliability reached 99.64 per cent. On time performance (OTP) reached 84.2 per cent. By December 31, 2018, Vietjet had 64 modern aircraft with the average age of only 2.82 years.
Vietjet successfully defended its " IATA Operational Safety Audit (IOSA) Certificate" in September 2018.
In the beginning of November 2018, on the occasion of the French Prime Minister's visit to Vietnam, Vietjet launched Aviation Academy. This is a large-scale and modern training facility equipped with a simulated cockpit complex (SIM) in co-operation with Airbus. The facility was evaluated to be at European standards by the European Aviation Safety Agency (EASA).
In addition, Vietjet won many prestigious prizes, such as the Labour Medal, Vietnam’s top 50 best listed companies, Vietnam’s top 40 most valuable brands 2018 by Forbes, the world's 50 best airlines for healthy financing by AirFinance Journal, and Vietnam’s top 50 largest taxpayers, among others.
