Vietjetannounced its business results for the first quarter of 2017

(Ho Chi Minh City 22nd April 2017). Vietjet Aviation JSC (HoSE code: VJC) recorded its positive results for the first quarter of 2017.

It achieved VND 5,095 billion of revenue from airline operations, an increase of 43.2% compared to the preceding year and exceeded budgeted forecast by over 10.6 %. Revenue contribution from international routes rose sharply. Its profit before tax and profit after tax stood at VND 423.64 billion and VND 381.65 billion, respectively, increased by 6.8% from the preceding year.

The airline carried 3.7 million passengers, an increase of 29.4% as compared to the same period of 2016.

In the first quarter of 2017, Vietjet launched 3 new international routes, increasing its total route network to 63. Load factor achieved for the quarter was 88% while On Time Performance was 87.7%, 4.1% improvement from preceding year.

Cost per Available Seat Kilometer (CASK) excluding fuel decreased by 4.1% from 2.44 US cents to 2.34 US cents as compared to the preceding year.

The first quarter of 2017, the airline's total asset reached VND 21,727 billion, a 17.4% y-o-y growth compared to the early year period

Its cash and cash equivalents stood at VND 2,777 billion as compared to the same period of the preceding year at approximately VND 944 billion.

Its shareholders equity increased by 69.7% from VND 3,072 billion to VND 5,213 billion.

Vietjet will operate A320/A321 NEO family that will contribute a 15% fuel saving.

Managing Director Luu Duc Khanh shared: "the Company operational cost has been competitive with the world's top airlines."

During the first quarter of 2017, Vietjet flew 22,352 sectors. Technical reliability was at 99.59%, 0.02% y-o-y increase.

It's Flight operations, ground operations and engineering safety indicators were listed in the group of highest quality airlines in the Asia Pacific region.

Local fuel cost in the first quarter of 2017 was VND 17.9 million/ton as compared to VND 12.33 million/ton of same quarter of the preceding year, represents an increase of 46% y-o-y . This is not surprised as Vietjet has forecasted this increment in its business plan for the first quarter 2017 and for the entire year 2017.

There was no new delivery this quarter. Thus there is no sale and lease back gains recorded during the quarter. VietJet is expected to increase its fleet from second quarter of 2017.

Vietjet listed its shares on HoSE with its debut price of VND 90,000 per share on February 28. The counter peaked on 20th April 2017, when the share price reached VND 131,600, an increase of over 45% from the IPO price. Foreign investors were the net top buyers. Vietjet was categorized in top 12 index linked company.

Vietjet received its full IATA membership certificate on 18 February 2017, assuring the new age carrier's role and position within local and international airline community.

Vietjet also received approval from Board of Management of Saigon Hi-Tech Park for its investment in Aviation Technology Center project as part of a program to develop the Vietjet Aviation Academy of 7.5 hectares in Saigon Hi-Tech Park. The project is expected to commence operations within 12 months post-construction – the first phase will be a Full Flight Simulator Center for pilot training. This simulator Centre is cooperation with aircraft manufacturer Airbus.