A Vietjet plane lands at Tan Son Nhat Airport in HCM City. VIETJET
With the aviation and tourism industries bouncing back strongly, Vietjet Aviation JSC (HoSE: VJC) kicked off 2022 with a positive performance, according to its financial statements for the first quarter (Q1) of this year.
The company reported a significant increase of 113 per cent year-on-year in pre-tax profit, owing to the rapid recovery of passenger transport and the ever-growing cargo business, which grew by 76 per cent and 94 per cent, respectively.
In Q1, Vietjet’s consolidated revenue surpassed 4.52 trillion dong ($197 million) while after-tax profit was 244 billion dong ($10.6 million), up 12 per cent and 98 per cent year-on-year, respectively.
Regarding air transport business, Vietjet’s revenue stood at over 3.34 trillion dong in three-month period, helping nail the after-tax profit of the parent company at 40 billion dong.
In 2022’s first three months, Vietjet resumed its entire domestic network and relaunched regular international services.
It has operated a total of 20,000 flights with more than three million passengers onboard across 60 domestic and international routes.
The airline’s total numbers of operated flights and transported passengers in the period saw respective rise of 50 per cent and 55 per cent, marking a milestone of strong recovery post Covid-19 pandemic.
It also airlifted more than 12,500 tonnes of cargo volume in the first quarter.
Vietjet has put its first two wide-body aircraft of A330 into operation and is expected to add the third one into its modern fleet soon.
The airline also revealed its 2021 audited financial statements on a positive note.
The parent company reached a revenue of over nine trillion dong with the audited post-tax profit increasing by 91 per cent over the compiled financial statement.
Meanwhile, Vietjet’s consolidated revenue and after-tax profit in 2021 reached over 12.87 trillion and 80 billion dong, respectively.
As of December 31, 2021, Vietjet’s assets surpassed 51.65 trillion dong.
Its debt-to-equity ratio stayed at 0.9 while the liquidity ratio was at 1.6, considered good indicators in the aviation industry.
In 2021, Vietjet operated nearly 42,000 flights across its network with more than 5.4 million passengers.
The airline reported over 66,000 tonnes in cargo transport, achieving fast growth, with cargo revenue rocketing by over 200 per cent year-on-year.
VIET NAM NEWS/ASIA NEWS NETWORK
