Kuala Lumpur, September 9, 2024 – Vietjet Aviation Joint Stock Company (HOSE: VJC) has announced its audited financial results for the first half of 2024, showcasing substantial year-over-year (YoY) growth across revenue, profit, and passenger numbers. The airline’s strategic focus on expansion, sustainability, and technology is driving its continued success in the highly competitive aviation sector.
Record-Breaking Financial Performance
In H1 2024, Vietjet’s air transport revenue surged to VND33.862 trillion (approx. RM5.98 billion), slightly exceeding its previously compiled financial statements. The airline also reported a pre-tax profit of VND1.166 trillion (approx. RM205.79 million), marking an astounding 688% increase YoY. The consolidated revenue reached VND34.030 trillion (approx. RM6 billion), while the consolidated pre-tax profit stood at VND1 trillion (approx. RM176.49 million), demonstrating 15% and 307% growth YoY, respectively.
This robust financial performance cements Vietjet’s position as a leading player in the airline industry, with total assets surpassing VND92.205 trillion (approx. RM16.273 billion) as of June 30, 2024.
Strategic Expansion and Passenger Growth
With a growing fleet of over 105 aircraft, including those from Vietjet Thailand, and more than 149 routes (38 domestic and 111 international), Vietjet carried 13.1 million passengers in H1 2024, including 5.5 million international passengers, a remarkable YoY increase of 52%. The airline’s international flights rose by 43%, further solidifying its leadership position in the region.
At the Farnborough International Airshow, Vietjet continued its expansion by signing an order for 20 wide-body A330neo aircraft, valued at US$7.4 billion (approx. RM32.147 billion). This deal underscores the airline’s commitment to modernizing its fleet and expanding its global presence.
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Leading in Sustainability and Innovation
Vietjet is also making strides towards sustainability by investing in research on Sustainable Aviation Fuel (SAF) and aiming to position itself as a leader in green aviation. This eco-friendly approach aligns with the airline’s broader vision of pioneering the aviation sector with cutting-edge technology and sustainable practices.
Saigon Ratings, an independent credit rating agency, has awarded Vietjet a long-term credit rating of “vnBBB-” with a stable outlook. This reflects the airline’s strong financial foundation, forward-thinking strategy, and ability to thrive in a rapidly recovering aviation market.
Accolades and Industry Recognition
Vietjet has garnered multiple accolades, including the prestigious titles of “Best Low-cost Airline in Southeast Asia” and “Best Finance-Management-Aviation-Vietnam” by International Finance magazine, along with two major wins at the World Travel Awards 2024, being named “Asia’s Leading Airline for Customer Experience” and “Asia’s Leading Airline Rewards Programme.” These recognitions further highlight Vietjet’s customer-centric approach and its excellence in financial management.
