Continue to expand international flight network, Vietjet reports its profit before tax increased by 17% in Q3

With the leading cost management ability and always having 88% load factor, air transport profit before tax increased by 17% to VND1,310 billion, consolidated profit reached to VND1,912 billion.

Accumulated results till the end of September 2019, the consolidated revenue was VND38,134 billion and profit before tax was VND4,206 billion, including VND30,597 billion air transport revenue and VND2,864 billion profit before tax.

In air transport business, passenger transport revenue was VND9,992 billion, of which the ancillary revenue contributing an important part in growth reached to VND2,835 billion, equivalent to 28.3% of the total passenger transport revenue. In the sustainable development model of low-cost carriers (LCC), ancillary revenue is an important factor determining the success of one airline because of its over 90% profit margin. According to CarTrawler YearBook 2019 report, Vietjet were ranked the 12th in term of ancillary revenue to total air transport revenue ratio. 

Compared to the same period last year, Vietjet maintained a high growth in expanding new market, especially international routes. By the end of the third quarter, the total number of routes was 127, an increase of 24 routes year on year, mainly international ones. The airline has operated 34,000 safe flights, transported more than 6 million passengers to all domestic and Asia-Pacific destinations. 

As business results, the current liquidity was 1.3. Debt to Equity ratio was 0.6, of which equity was VND14,847 billion. 

At the end of Q3, Vietjet officially added to its young, modern fleet a new Airbus A321neo ACF (Airbus Cabin Flex), the first 240 seat ones all over the world. A321neo ACF aircraft help reduce fuel consumption by minimum of 16%, reduce noise by up to 75% and emissions to the environment by 50%. With a wide network of domestic and regional flights, Vietjet now operates a fleet with technical reliability of 99.64%, among the highest in the world. 

AirFinance Journal has just announced its ranking in 2019, accordingly Vietjet is at BBB ranking, continued to be in the world’s top 50 airlines. This is the second consecutive year Vietjet being honored in the top 50 airlines, along with prestigious airlines as Ryanair, Spirit Airlines, Japan Airlines, Air Canada, British Airways, Southwest Airlines, etc.

According to the ranking report, EBITDAR margin of Vietjet is highly appreciated, at A ranking and in the top 7 compared to other airlines in the world. Besides, the average age of Vietjet fleet is 2.9 years, reaching AAA level according to AirFinance, leading in the world airline rankings.