Vietjet aims for US$1.8 billion revenue in 2017

Thursday, 2017-04-20 09:37:30
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NDO - Low-cost carrier Vietjet has announced its business goals for 2017, aiming to earn revenues of VND42 trillion (US$1.8 billion) and profits of VND3.6 trillion (US$158 million).

The targets were set at the company’s annual general meeting held in Ho Chi Minh City on April 20.

The low-cost airline is expected to put a total of 51 aircraft into service by the end of 2017, operate 98,100 flights and transport 17 million passengers.

The carrier also plans to raise the number of routes it operates to 78, including 37 international routes.

Vietjet CEO Luu Duc Khanh said since joining the aviation market five years ago, the company has served over 34 million passengers and carried 158,100 tonnes of cargo on more than 204,000 flights across 60 routes.

Revenues from passenger transport rose by an annual average of 70% during the 2012-2016 period.

Last year, Vietjet brought in nearly 27.5 trillion (US$1.21 billion) in revenues and reported pre-tax profits of over VND2.7 trillion (US$118.8 million).

At the general meeting, shareholders agreed to raise the foreign ownership cap in Vietjet from the current 30% to 49% in order to increase its ability to attract capital.