Vietjet’s pre-tax profit hits US$250 million in 2018

Saturday, 2019-01-26 15:57:17
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Vietjet Air posts pre-tax profit of an estimated US$250 million in 2018. (Photo by Vietjet)
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NDO/VNA – The Vietjet Aviation Joint Stock Company (VJC) posted pre-tax profit of an estimated VND5.83 trillion (US$250 million) in 2018.

The firm said its total revenue of VND52.4 trillion (over US$2.25 billion) in the year, up 24% year on year.

Its air transport revenue reached VND33.815 trillion, up 49% year-on-year, while the auxiliary revenue of the firm grew 57% compared to 2017.

The firm’s strategy to develop an international flight network has been promoted, aiming to collect foreign currency from ticket sales and take advantage of cheaper fuel in international markets.

In 2018, Vietjet’s seat occupation rate was 88.06%, while the technical reliability hit 94.64%. Its on-time performance index (OTP) reached 84.2%.

The firm has received and operated new-generation aircraft A321neo, which is able to save fuel by 16%, helping it reduce operational costs.

As of the end of the year, Vietjet’s fleet had 64 aircraft with an average age of use of 2.82 years, implementing more than 385 flights daily.