Vietjet’s profits up 33% in first three quarters of 2018

Wednesday, 2018-10-31 16:25:18
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In the first nine months of 2018, Vietjet operated 89,690 flights, carrying 16.8 million passengers. (Photo: Vietjet)
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NDO - The low-cost carrier Vietjet has reported post-tax profits of VND3.681 trillion (US$152 million) in the first three quarters of 2018, up 33% against the same period last year.

The airline’s profits from its air transport business reached VND2.28 trillion (US$98 million), equivalent to 76% of the full-year target.

A Vietjet representative stated that the company’s earnings from air transport came as a result of its effective cost management, including fuel costs, especially amid fluctuations in fuel prices.

In the first nine months of 2018, the carrier operated 89,690 flights, up nearly 22%, carrying 16.8 million passengers across domestic and international routes, with the revenues from international routes accounting for more than half of its total revenues.

Its on-time performance during the period reached 83.5%.

Vietjet’s current offerings include 39 domestic routes and 64 routes, covering major destinations in Vietnam and Asia, including Japan, China, Hong Kong (China), Singapore, the Republic of Korea, Taiwan (China), Thailand, Myanmar, Malaysia and Cambodia.

Although September was not a peak month for tourists, Vietjet’s third quarter revenues still rose 45% against the same quarter of 2017, due to the opening of new routes and the expansion of its fleet.

The company took delivery of three new aircraft in the third quarter, with the total number of aircraft in its fleet expected to reach 65 by the end of the year.