Vietjet Aviation Joint Stock Company has announced its audited financial statement for the first half of 2024, showcasing a remarkable period of growth and success. The airline’s impressive performance is characterized by a significant surge in both revenue and profit, solidifying its position as a leading player in the aviation industry.
Vietjet’s air transport revenue reached a record VND33.862 trillion (approximately US$1.37 billion) in the first six months of 2024, exceeding initial estimates. This impressive figure is fueled by a robust increase in passenger numbers and a strong recovery in travel demand. The airline’s pre-tax profit soared to VND1.166 trillion (around US$47.38 million), marking an impressive 688% year-on-year increase. This exceptional growth reflects Vietjet’s effective strategies and its ability to navigate the challenging post-pandemic environment.
Consolidated results for the first half of 2024 demonstrate continued success. Total revenue reached VND34.030 trillion (around US$1.38 billion), while consolidated pre-tax profit surpassed VND1 trillion (approximately US$40.63 million). These figures represent a significant 15% increase in revenue and a staggering 307% rise in pre-tax profit compared to the same period last year. These impressive results highlight the company’s resilience and its successful growth strategy.
As of June 30, 2024, Vietjet’s total assets exceeded VND92.205 trillion (approximately US$3.74 billion). The airline’s financial strength is further highlighted by a debt-to-equity ratio of 2.16, significantly below the global average of 5. Vietjet’s liquidity ratio stood at 1.3, aligning with industry standards. These metrics underscore the airline’s financial stability and its strong operational footing within the aviation sector.
Vietjet’s commitment to financial stability and sustainable growth is further emphasized by its credit rating, which has been reaffirmed by Saigon Ratings at vnBBB-, with a stable outlook. This rating reflects the airline’s steady recovery and proactive preparations over the past years. This positive assessment indicates a promising future for Vietjet, with expectations for continued growth and sustainable development in the medium and long term.
Vietjet transported a remarkable 13.1 million passengers on over 70,000 safe flights in the first half of 2024. Of these, 5.5 million were international passengers, marking a 52% increase in international passengers and a 43% rise in international flights year-on-year. These milestones further strengthen Vietjet’s leadership in the airline industry, demonstrating its commitment to providing safe and reliable air travel to destinations across the globe.
Vietjet’s strong H1 2024 results are a testament to its commitment to innovation, efficiency, and customer satisfaction. The airline continues to expand its network, enhance its services, and invest in technology to provide a superior travel experience for its passengers. With a solid financial foundation and a strategic vision for the future, Vietjet is poised for continued success and growth in the years to come.
