Vietjet achieved its highest revenue ever in 2024.

Vietjet Aviation Joint Stock Company (HOSE: VJC) recorded strong revenue and profit growth in the fourth quarter and for the whole year of 2024.

Báo Tuổi Trẻ•04/02/2025

Vietjet aircraft at Miami Airport, Florida, USA - Photo: Provided

Achieved the target of receiving new aircraft and reached high revenue.

According to the Q4 2024 business results report, the airline recorded aviation revenue of VND 19,776 trillion and after-tax profit of VND 167 billion, representing growth of 36% and 247% respectively compared to the same period in 2023.

For the whole year of 2024, aviation revenue reached VND 71,545 billion, and after-tax profit exceeded VND 1,301 billion, representing growth of 33% and 697% respectively compared to 2023.

In the fourth quarter, the company achieved consolidated revenue of VND 19,797 billion and after-tax profit of over VND 21.4 billion, representing growth of 36% and 8% respectively compared to the same period in 2023. For the whole year of 2024, sales revenue and service provision are projected to reach VND 71,859 billion, and after-tax profit of over VND 1,426 billion, representing growth of 23% and 516% respectively compared to 2023.

In 2024, the airline transported over 25.9 million passengers on 137,000 flights; operating a total of 145 routes, including 44 domestic and 101 international routes.

The airline has achieved its goal of receiving 10 new aircraft in 2024, bringing its total fleet to 94 aircraft, the newest in the region. The airline's flights have a high average seat occupancy rate of 87% and a technical reliability rate of 99.72%.

As of December 31, 2024, total assets reached nearly VND 99,500 billion, the debt-to-equity ratio was 2.12 times, and the liquidity ratio was 1.71 times, which is considered safe within the aviation industry.

Cash, bank deposits, and cash equivalents totaled over VND 7.7 trillion, coupled with working capital limits, ensuring the company's solvency.

Vietjet contributed over 7.5 trillion VND in direct and indirect taxes and fees in 2024.

Boosting the expansion of international flight networks.

The positive business results reflect the strategy of expanding the international flight network while maintaining a stable domestic network, aiming to explore new markets, strengthen connections between Vietnam and countries in and outside the region, and contribute to promoting tourism , trade, and investment between the parties.

Vietjet Chairwoman, Dr. Nguyen Thi Phuong Thao, speaks at the "Friends of Vietnam Summit" event at Mar-a-Lago, USA. (Photo: Provided)

In the fourth quarter of 2024, Vietjet launched direct flights between Da Nang and Ahmedabad (India), Xi'an (China) and Ho Chi Minh City, increased the frequency of direct flights between Ho Chi Minh City and Perth (Australia), and many other destinations in the region such as South Korea, Japan, Hong Kong (China), etc.

Vietjet has also signed a cooperation agreement with Emirates to expand connections between major cities in Vietnam and Dubai, UAE, as well as other global destinations. In addition, the airline continuously announces new direct routes to Hyderabad and Bangalore (India), Beijing and Hangzhou (China), establishing deeper connections with these two potentially lucrative markets.

Vietjet and CFM International have reaffirmed their commitment to orders for more than 400 LEAP-1B engines, along with technical maintenance services for the airline's narrow-body aircraft, worth $8 billion. The airline also signed an agreement with Castlelake to arrange a long-term lease financing loan worth $560 million.

A new milestone from the Vietnam-US flight.

Entering 2025, the airline marks a significant milestone in its development journey with the launch of its first flight from Vietnam to the United States.

During the trip, collaborations worth approximately $14 billion between the airline and strategic partners in the United States were discussed in a positive spirit, following other strategic agreements between Vietjet and leading corporations such as Boeing, GE, CFM, Pratt & Whitney, Honeywell, etc., with a total value of nearly $50 billion.

In 2024, Vietjet transported over 25.9 million passengers - Photo: Provided

The airline is expected to receive the first 14 737 Max aircraft out of 200 ordered from Boeing, significantly increasing its carrying capacity to meet the growing travel demand both domestically and internationally.

The airline is also actively negotiating with SpaceX and several other providers of in-flight internet technology solutions to serve its fleet of hundreds of aircraft, constantly innovating, improving service quality, and keeping up with digital trends in the era of innovation.

By 2025, the airline aims to maintain its leading position in connecting Vietnam with the world through an increasingly expanding international flight network, contributing to promoting trade, investment, cultural exchange, and people-to-people interactions between Vietnam and countries within and outside the region.

At the same time, aiming to become a green airline and a leader in technology, Vietjet will continue to promote activities associated with sustainable development, contributing to the economies of nations, and fulfilling its responsibilities to society and the community.

Source: https://tuoitre.vn/vietjet-dat-doanh-thu-2024-cao-nhat-tu-truoc-den-nay-20250204110904939.htm