In the first 6 months of 2023, Vietjet safely operated 65.9 thousand 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 thousand 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.

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% respectively; 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 opens many international routes connecting to Vietnam.

In the second quarter of 2023, Vietjet will continue to grow strongly and profitably thanks to its sustainable business strategy, including pioneering the development of the international flight network, continuously innovating and enhancing ancillary products and services with high profit margins, owning a new fleet and large aircraft orders with Airbus and Boeing, bringing advantages in operational performance and aircraft finance.

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 has pioneered the exploitation of the Indian market with 7 routes connecting Hanoi , Ho Chi Minh City with Mumbai, Dehli, Ahmedabad and Kochi, bringing passengers to cities in Vietnam.

Since mid-April 2023, the airline has opened three consecutive direct flights from Australia's largest cities, Sydney, Melbourne, and Brisbane, to Ho Chi Minh City with flights always full of passengers.

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 more than 50%. Vietjet transported 3.5 million international visitors to Vietnam, actively supporting international tourism and investment.

In the first six months of the year, Vietjet continued 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 Card, free travel insurance, and in-flight duty-free shopping facilities. In particular, the SkyJoy loyalty program now has nearly 9 million members.

In addition to optimized fuel costs thanks to the new fleet, fuel prices decreased by about 40% compared to the same period, helping Vietjet continue to achieve efficiency in the second quarter of 2023.

Pioneering in exploiting international markets and bringing tourists to Vietnam, Vietjet reported positive business results in the first half of 2023.

As of June 30, 2023, Vietjet's total assets reached more than VND 71.5 trillion, with a debt/equity ratio of 1.2 times and a liquidity ratio of 1.5 times, which are good in the aviation industry. Cash and cash equivalents at the end of the second quarter of 2023 reached VND 2,165 billion, plus the working capital limit to ensure the company's ability to pay quickly.

Vietjet contributed VND2,795 billion in direct and indirect taxes and fees to the budget in the first 6 months of 2023. Contributing to the community, Vietjet maintains free or low-cost flights to serve workers and laborers, creating conditions for those who have never flown.

Notably, Vietjet has received a BB+ credit rating with a stable outlook (VnBB+) from Saigon Ratings. Saigon Ratings assessed that Vietjet has the flexibility to exploit various revenue sources outside of its core business, thereby helping the airline maintain positive profits during the Covid-19 pandemic.

In June 2023, Vietjet continued to affirm its leading position in low-cost airline services globally, with two awards: “Best Low-Cost Airline with Best In-Flight Services 2023” and “World's Best Ultra-Low-Cost Airline 2023” voted by AirlineRatings.

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

News and photos: LAN CHI

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