Vietjet generated USD84.7 million group profit before tax in 1H2017

In first half of 2017, Vietjet generated USD84.7 million group profit before tax, 44.7 per cent increase year on year.

Following its 1H2017 unaudited separated financial statements released last week, Vietjet Aviation Joint Stock Company (HOSE code: VJC) announced its unaudited group financial statements in 1H2017 featuring surpassed growth in targets compared to previous period.

Accordingly, overall revenue in the period stood at USD730.7 million, an increase of around 31 per cent compared to previous period. Separately, revenue in Q2/2017 reached USD503 million, an increase of 89 per cent year on year. The 2nd quarter’s group profit before tax stood at around USD66.1 million. In first half of 2017, Vietjet generated USD84.7 million group profit before tax, 44.7 per cent increase year on year.

Especially, growth in passenger carriage on international routes increased by nearly 130 per cent, making it main momentum for the quarter growth. Also, revenue in aviation carriage in 1H2017 stood at USD478.9 million - an increase of 45.1 percent compared to same period last year. The company’s profit before tax from aviation carriage reached to more than USD48.6 million, an increase of 46 per cent year on year.

In Q2/2017, Vietjet received five more brand-new A321 aircraft from Airbus; generated USD250.6 million revenue from aircraft sale. Up to June 30th, 2017, Vietjet’s total assets reached USD1,112.1 million, a 50.8 percent increase; owners’ equity reached USD 355.04 million, an increase of 130 per cent year on year.

Up to June 30th, 2017, Vietjet operated 30 A320 aircraft and 15 A321 aircraft on 73 domestic and international routes, an increase of 13 routes compared to that of December 31st, 2016, an equivalence of 37.7 per cent increase year on year and achieved 110.6 per cent of the year’s target. Vietjet carried 8.27 million passengers, an increase of 22.4% year on year, on 49,151 flights with an average load factor of around 88 per cent; the technical reliability rate of 99.55% and on-time performance rate of 85.7%. Other index in operation safety, technical operations and ground operations were among the highest in the Asia-Pacific region. 

Vietjet also broke ground for the construction of Vietjet Aviation Academy in the Saigon Hi-Tech Park in District 9, Ho Chi Minh City, Vietnam. The first element of the academy – Full flight simulator is expected to be in operation in next 12 months.

Recently on July 25th, 2017, Vietjet and Japan Airlines reached a formal comprehensive partnership agreement with an aim at improving customer convenience and the quality of operations and services while enhancing the corporate value of both companies.