As domestic and international travel demand recovers strongly, Vietjet Aviation Joint Stock Company (HoSE: VJC) has reported positive business performance in the second quarter and first half of 2022.
In the second quarter of the year, Vietjet’s total air transportation revenue reached VND 11.355 billion (approximately USD 488 million), increasing 15% compared to the pre-pandemic level of 2019, with a profit after taxes of 36 billion VND (approximately 1.54 million USD). Notably, its domestic revenue in the second quarter soared more than 30% compared to the same period in 2019, with 53 domestic services.
Vietjet’s consolidated revenue stood at 11.59 trillion (approximately USD 499 million) and the consolidated profit after tax in the second quarter was VND 181 billion (approximately USD 7.8 million).
As for the first half results, the airline’s air transportation revenue and its consolidated revenue reached VND 14.696 billion (approximately USD 632 million) and VND 16.112 billion (approximately USD 693 million) respectively, both higher than levels prior to the 2019 pandemic.
Overall, Vietjet’s profit after tax for the first half reached VND 76 billion (approximately USD 3.26 million), while its consolidated profit was VND 426 billion (USD 18.3 million). ).
In the past six months, Vietjet has increased the frequency of flights on numerous routes to meet travel demand after the pandemic, supporting the recovery of local tourism and economy. It has operated a total of 52,500 flights with 9 million passengers on board, an increase of 54% and 92% respectively. The number of flights has especially increased by 8% from the pre-pandemic level of 2019.
Vietjet’s consolidated revenue stood at 11.590 billion (approximately $499 million)
In the second quarter, the airline has operated almost 33,000 flights and has served 6 million passengers, both markedly higher than before the pandemic. The cargo volume reached more than 11,000 tons.
To promote and lead the reopening between Vietnam and international skies right after the pandemic, Vietjet has rapidly expanded new international routes. It was the pioneer airline in developing an extensive network of 17 direct routes between Vietnam and India, a market of 1.4 billion people, specifically to Delhi, Mumbai, Ahmedabad, Hyderabad and Bangalore. Vietjet has also opened new routes from Ho Chi Minh City and Da Nang to Busan, in the Republic of Korea, and from Hanoi to Nagoya and Fukuoka, in Japan, among others.
In addition to the advanced A320 and A321 fleet, Vietjet has put into service for the first time the new generation of modern A330 wide-body aircraft. Equipped with noise control technology, they have provided safer and more comfortable flight experiences for passengers, while reducing the frequency of take-off and landing at operating airports.
Vietjet has introduced a new website and mobile app, as well as service packages including “Fly First, Pay Later” to help customers in financial difficulty, and the Sky Holidays service offering a package of airfare and accommodation in hotels and resorts throughout Vietnam.
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The “Fly first, Pay later” service, in particular, was awarded the Best New Fintech Product 2022 award by the prestigious British magazine The Global Economics Times. It was hailed not only for offering financial aid, but also for significant socioeconomic purpose.
As many airlines have faced labor shortages after the pandemic, Vietjet has managed to maintain a favorable labor policy and various training courses for all employees.
Vietjet Aviation Academy (VJAA) has opened more than 650 courses for nearly 15,000 trainee pilots, cabin crew, flight dispatchers, flight engineers and ground service officers, etc. It has cooperated with major national and international partners to launch elementary pilot training programs.
Vietjet has introduced a new website and mobile app, as well as service packages including “Fly First, Pay Later”
Vietjet has also been hailed as “Value Airline of the Year” and “Top 10 Best Low Cost Airlines” for 2022 by AirlineRatings, the renowned rating website.
The airline has passed the re-evaluation of the ISO27001 information security certification by the German TUV NOR, meeting all the ISO27001:2013 information security management criteria.
At the Farnborough Air Show in the UK last month, Vietjet reached an agreement with Boeing on deal restructuring, affirming the airline’s commitment to acquire 200 Boeing 737 aircraft with international capital. This was considered a notable effort by Boeing and Vietjet to contribute to bilateral trade and exchanges between Vietnam and the United States.
Article republished from the Vietnamese state media VNA as part of an agreement between both parties to share content. Link to original article: https://en.vietnamplus.vn/vietjet-reports-positive-performance-in-h1/234737.vnp
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