Strong growth in revenue and profit

In the first 6 months of 2023, Vietjet Air safely operated 65,900 flights, transporting over 12.1 million passengers, including 3.5 million international passengers, up 26% and 30% over the same period. The airline's flights achieved an average seat utilization rate of over 85% and a technical reliability of 99.63%. Vietjet's total cargo volume reached 33,000 tons, up nearly 40% over the same period. Vietjet's fleet has 103 aircraft, including 7 wide-body aircraft, 18 aircraft operated by Vietjet Thailand, and 3 new aircraft under delivery.

Notably, Vietjet recorded air transport revenue and profit in the second quarter of 2023 reaching VND 12,522 billion and VND 72 billion, up 10% and 101%; consolidated revenue and profit after tax reached VND 16,872 billion and VND 214 billion, up 46% and 18% compared to the second quarter of 2022.

In the first 6 months of 2023, Vietjet recorded consolidated revenue of VND29,770 billion, up 87% and completing 60% of the yearly plan. Ancillary revenue maintained high growth, reaching VND9,000 billion, double the same period and contributing 40% of total revenue. Consolidated profit after tax reached VND387 billion, up 167% over the same period.

Vietjet pioneers in opening many new routes connecting Vietnam and the world .

In the first 6 months of 2023, Vietravel Airlines increased the total number of flights by 48%, the total number of flight hours by 55.1%, the total number of available seats by 43.3% and the total number of passengers by 42.7% compared to the same period in early 2022.

For Vietnam Airlines Corporation, in the second quarter of 2023, the corporation achieved total revenue from sales and service provision of VND 20,696 billion, 12.3% higher than in the second quarter of 2022. This is also the 7th consecutive quarter that Vietnam Airlines' revenue has grown compared to the same period last year, reflecting the recovery trend of the aviation market after the Covid-19 pandemic.

After deducting the cost of goods sold, Vietnam Airlines recorded a gross profit of VND929 billion in the second quarter of 2023. In the first 6 months of the year, the corporation achieved a revenue of more than VND44,000 billion, up 47% over the same period; gross profit reached nearly VND2,900 billion, much better than the gross loss in the first half of last year. However, after accounting for all expenses, Vietnam Airlines lost VND1,331 billion after tax in the first half of this year, only 1/4 compared to the first 6 months of 2022. The loss in the second quarter also decreased by 50% compared to the same period last year, mainly due to profitable subsidiaries and reduced losses in transportation businesses.

Adding aircraft, continuing to expand flight network

The flight network of some airlines continued to expand in the first 6 months of 2023. Of which, Vietjet opened 11 new international routes in the second quarter of 2023 to Australia, Indonesia, and India, bringing the total number of routes to 120 (45 domestic routes, 75 international routes). Vietjet is a pioneer in exploiting the Indian market with flights connecting Hanoi and Ho Chi Minh City with many major cities in India.

Passengers welcome new route with Vietjet's quality services.

In the first 6 months of the year, there were 14.6 million international visitors to Vietnam by air, Vietnamese airlines transported 6.9 million passengers, of which Vietjet contributed over 50%. Vietjet transported 3.5 million international visitors to Vietnam, actively supporting international tourism and investment.

In addition, Vietjet continues to improve service quality and customer experience with new Business class seats, a variety of products and services such as "Fly now - Pay later", travel credit cards, free travel insurance, and in-flight duty-free shopping facilities. In particular, the SkyJoy loyalty program currently has nearly 9 million members.

Vietjet continues to improve service quality and customer experience.

With a large number of passengers, especially international passengers, and positive business results in the first 6 months of the year, Vietjet aims to achieve and exceed its 2023 plan, continuing to contribute to the recovery and growth of tourism, investment and the economy in general.

Vietravel Airlines has also implemented a development plan for the last 6 months of 2023. The airline is expected to receive its 5th aircraft and put it into operation in mid-August 2023, and increase its fleet to 6 aircraft in 2023. With the increase in the number of aircraft, the airline will expand its domestic and international flight network this year, with the target markets being China, Korea, Japan, and Taiwan (China).

However, for some air transport units, the transport business has not yet balanced revenue and expenditure because the international market has not fully recovered, especially key markets such as China, Japan, Hong Kong (China), Taiwan (China). Financial risk factors and input costs such as fuel prices, exchange rates, and interest rates continue to negatively affect production and business results. From these factors, the production and business results of airlines depend largely on the efforts of each unit, especially management, cost reduction, operation optimization, and efficiency improvement.

Article and photos: BAO LINH