Vietjet releases H1/2024 audited financial statements, reporting strong growth in revenue, profit

(Vietjet, HoChiMinh City, Sept 07, 2024) - Vietjet Aviation Joint Stock Company (HOSE: VJC) has released its audited financial statement for H1 2024, reporting strong growth in revenue and profit YoY.

According to the report, Vietjet’s air transport revenue reached VND33.862 trillion (approx. US$1.37 billion) in the first 6 months of 2024, slightly higher than the compiled financial statement’s. Pre-tax profit was recorded at VND1.166 trillion (approx. US$47.38 million) - an rocketing increase of 688% YoY.

Vietjet reported H1 consolidated revenue of VND34.030 trillion (approx. US$1.38 billion) and consolidated pre-tax profit of more than VND1 trillion (approx. US$40.63 million), increasing by 15% and 307% respectively YoY.

As of June 30, 2024, Vietjet's total assets reached over VND92.205 trillion (approx. US$3.74 billion). The debt-to-equity ratio stayed at around 2.16 while the global average was at 5. Its liquidity ratio stood at 1.3 which was within good range of the aviation industry.

According to Saigon Ratings - an independent credit rating organization, Vietjet has maintained a long-term credit rating of vnBBB- with a "Stable" outlook. Judging on the airlines’ remarkable on-going recovery and its proactive preparations for future plans throughout 2022 and 2023, Vietjet is believed to make break-through developments faster and more sustainably in the medium and long term.

Vietjet has paid a total of VND3.687 trillion (approx. US$146.78 million) of direct and indirect taxes and fees in the first half of 2024.

The airline transported a total of 13.1 million passengers on more than 70,000 safe flights in H1/2024. The number of international passengers reached 5.5 million while the number of international flights exceeded 28,300, increasing by 52% and 43% respectively YoY, making it the leading airline in terms of passenger volume.

Vietjet is operating more than 149 routes across Vietnam and internationally, including 38 domestic and 111 international routes.

Operating a fleet of more than 105 aircraft (including Vietjet Thailand), Vietjet is actively expanding its flight network transcontinental, developing a new, modern, and environmentally friendly fleet.

Vietjet and Airbus signed an order of 20 new generation wide body A330neo (A330-900) aircraft worth US$7.4 billion at Farnborough International Airshow 2024 .

Embracing a strategy and vision of building and developing aviation human resources of international standards, Vietjet Aviation Academy (VJAA) has become a training partner of the International Air Transport Association (IATA).

Vietjet pioneered into researches for the development and use of sustainable aviation fuel, eyeing to become a green airline that leads in technology and activities associated with sustainable development.

Vietjet was honored by the world's leading financial magazine International Finance as "Best Low-cost Airline in Southeast Asia" and "Best Finance-Management-Aviation-Vietnam"; "Best Ultra Low-cost Airline" and "Best Low-cost Airline Onboard Hospitality” by AirlineRatings; and was in Forbes’ top 50 best listed companies in Vietnam in 2024.

The airline was also the dual winner of the World Travel Awards 2024, being named the "Asia's Leading Airline for Customer Experience" and "Asia's Leading Airline Rewards Programme".