Steering into new businesses, Vietjet reports positive results in Q3/2021

(Vietjet, HCM city, December 11, 2021) - Vietjet Aviation Joint Stock Company (HOSE: VJC) has released its Q3/2021 financial statements, reporting air transport revenue of more than VND1,365 billion (approx. US$59.17 million) following its huge efforts to break even. Accumulated revenue reached more than VND6,384 billion (approx. US$276.73 million) while gross profit was more than VND44.5 billion (approx. US$1.93 million) for the first nine months of 2021.

In its consolidated financial report, Vietjet has posted its Q3/2021 revenue at VND2,654 billion (approx. US$115.14 million) and accumulated revenue for the first nine months of 2021 at VND10,210 billion (approx. US$442.96 million).

Vietjet’s assets totaled more than VND50,949 billion (approx. US$2.21 billion) by the end of September 2021. Its debt-to-equity ratio stayed at as low as 0.8 while the liquidity ratio was at 1.06 - all were within the safety margin and considered good indicators in the aviation industry.

Vietjet has transported about 6.4 million passengers on nearly 37,000 flights over the first nine months of the year, retaining its highest quality service with the OTP rate reaching 99.7%. All of Vietjet flights have strictly followed disease-prevention regulations.

The airline has carried out many flights to airlift tens of thousands of medical staff, soldiers and police officers and millions of vaccine jabs and medical equipment to aid the outbreak-stricken localities.

Vietjet has also celebrated the first anniversary of the Vietjet Ground Services Center (VJGS) which served up to 4.5 million passengers on 25,217 flights and transported 64,031 tons of cargo. As a result, ancillary revenue reached 112.43% of its planned target. VJGS has well proved its capability in performing ground services and would serve as a big step forward to complete Vietjet’s aviation supply chain services in order to level up service quality while optimizing costs.

The airline has vigorously pushed for technology adaptation and digital transformation, renovated and upgraded system operations protocols while enhancing cost and fuel-saving management in Q3/2021.

The Vietjet Aviation Academy (VJAA) has increased its e-learning activities to save costs and ensure disease-protection efforts. There have been hundreds of courses for over 5,700 learners, including courses for pilots, cabin crew, flight dispatchers, engineers and ground services employees.

The airline has reached an agreement with its strategic partner of Airbus on the delivery of 119 ordered aircrafts by the end of 2028. They would also work together to develop Vietjet’s wide-body aircraft fleet in addition to substantial post-pandemic support in maintenance and pilot training.

Vietjet now has resumed all of its routes connecting Hanoi and Ho Chi Minh City with other localities to meet the people’s demand of traveling fast and safely. The airline is ready to reopen regular commercial international flights in the coming time.

Vietjet has planned to operate 3 direct flight routes since mid-2022 connecting Ha Noi, Ho Chi Minh City and Nha Trang with Moscow, Russia by the Airbus’ modern A330-300 aircrafts. This is the first step in realizing Vietjet’s ambition to enter the European market, fulfilling the travelling demand between Vietnam and the world and contributing to the country’s economic development.