Achieved the target of receiving new aircraft and reached high revenue.
According to its Q4 2024 business results report, Vietjet recorded aviation revenue of VND 19,776 billion 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 2024, Vietjet's 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 its consolidated Q4 results, Vietjet achieved VND 19,797 billion in revenue and over VND 21.4 billion in after-tax profit, 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, Vietjet transported more than 25.9 million passengers on 137,000 flights; operated a total of 145 routes, including 44 domestic routes and 101 international routes. Vietjet was the airline with the largest number of passengers transported in Vietnam.
In 2024, Vietjet transported more than 25.9 million passengers. PHOTO: TL
Vietjet has completed its target of receiving 10 new aircraft in 2024, bringing its total fleet to 94, with the youngest fleet age in the region. The airline's flights achieved a high average seat load factor of 87% and technical reliability of 99.72%.
As of December 31, 2024, Vietjet's total assets reached nearly VND 99,500 billion, debt/equity ratio of 2.12 times and liquidity ratio of 1.71 times, at a safe level in 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 Vietjet's strategy of expanding its international flight network while maintaining a stable domestic network, aiming to explore new markets, strengthen connections between Vietnam and countries within and outside the region, and contribute to promoting tourism , trade, and investment between the parties.
In the fourth quarter of 2024, Vietjet launched direct flights from Da Nang to Ahmedabad (India), Xi'an (China) to 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 Korea, Japan, Hong Kong (China)...
Vietjet aircraft at Miami airport, Florida, USA. PHOTO: TL
Vietjet aircraft at Miami airport, Florida, USA. PHOTO: TL
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 has always been a pioneer in and maintains research and development activities aimed at reducing emissions, green transition, and sustainable development (ESG). The CFM LEAP engine series reduces fuel consumption and CO₂ emissions by 15% to 20% compared to previous generation engines.
Continuously investing in new aviation technology solutions and services to ensure the highest standards of safety and quality, Vietjet and CFM International have reaffirmed their commitment to orders for over 400 LEAP-1B engines and technical maintenance services for the airline's narrow-body aircraft, valued at US$8 billion. Vietjet has also signed an agreement with Castlelake to arrange a long-term lease financing loan worth US$560 million.
A new milestone from the Vietnam-US flight.
Entering 2025, Vietjet marked 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 Vietjet and strategic partners in the US were discussed in a positive spirit, following other strategic agreements Vietjet has signed with leading corporations such as Boeing, GE, CFM, Pratt & Whitney, Honeywell… with a total value of nearly $50 billion.
Vietjet Board Chairwoman, Dr. Nguyen Thi Phuong Thao speaks at the "Friends of Vietnam Summit" event in Mar-a-Lago - USA. PHOTO: TL
It is expected that Vietjet will receive the first 14 737 Max aircraft out of 200 ordered from Boeing, helping to significantly increase the airline's transport capacity, meeting the increasing travel needs of people at home and abroad.
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. Simultaneously, striving to become a green airline and a leader in technology, Vietjet will continue to promote activities linked to sustainable development, contributing to the economies of nations, and fulfilling its social and community responsibilities.
Source: https://thanhnien.vn/vietjet-dat-doanh-thu-nam-2024-cao-nhat-tu-truoc-den-nay-185250204090923895.htm
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