Vietjet has reported strong financial and operational results for the latest quarter and the first nine months of the year, alongside a significant expansion of its services between Singapore and Vietnam. The airline’s strategic focus on optimizing its operational network and expanding internationally has contributed to its robust performance.
Financial Performance and Operational Growth
For the latest quarter, Vietjet achieved a revenue of VND 18,800 billion and an after-tax profit of VND 2,500 billion. Over the first nine months of the year, the airline reported a total revenue of VND 43,700 billion and an after-tax profit of VND 570 billion. These figures highlight the company’s financial strength and growth trajectory.
Operationally, Vietjet successfully operated over 32,700 flights in the latest quarter, transporting more than 6.5 million passengers. The passenger load factor reached 87%, demonstrating efficient capacity utilization. By the end of September, the airline’s fleet comprised 103 aircraft, following the delivery of an additional A321 ACF aircraft during the month. The airline maintained an impressive on-time performance (OTP) of 87% and a technical reliability rate of 99.7%.
Expanding International Reach
Vietjet has prioritized the expansion of its international flight network, launching 17 new routes during the first nine months of the year. This expansion has grown its total route network to 125 routes, including 47 domestic and 78 international routes. The airline saw a 15% increase in international passenger transport. Compared to the same period last year, overall flights increased by 23% and overall passengers by 26%. International flights surged by 57% and international passengers by 106%.
Key new markets include India, Australia, Indonesia, and Kazakhstan, in addition to strengthening services to traditional markets like Japan, South Korea, Taiwan, Hong Kong, and China. Within Southeast Asia, Vietjet has enhanced its presence, particularly with its expanded services to Singapore.
Singapore-Vietnam Services Enhancement
Vietjet significantly expanded its services connecting Singapore to various destinations across Vietnam. With the launch of a new route from Singapore to Nha Trang on October 29, the airline now operates seven routes between Singapore and Vietnam. These include services to Ho Chi Minh City, Hanoi, Da Nang, Phu Quoc, Da Lat, Can Tho, and the newly added Nha Trang.
Specific service frequencies include up to three daily flights between Singapore and Ho Chi Minh City, up to two daily flights between Singapore and Hanoi, and up to one daily flight to Da Nang and Phu Quoc. The airline also offers up to four weekly flights for Singapore-Da Lat and Singapore-Nha Trang, and up to three weekly flights for Singapore-Can Tho. This expansion aims to meet growing demand for travel and tourism between the two regions.
Key Points
- Latest Quarter Revenue: VND 18,800 billion
- Latest Quarter After-Tax Profit: VND 2,500 billion
- Nine-Month Revenue: VND 43,700 billion
- Nine-Month After-Tax Profit: VND 570 billion
- Latest Quarter Flights Operated: Over 32,700
- Latest Quarter Passengers Transported: Over 6.5 million
- Latest Quarter Passenger Load Factor: 87%
- Fleet Size (end of September): 103 aircraft
- New Aircraft Delivered (September): One A321 ACF
- New Routes Launched (first nine months): 17
- Total Route Network: 125 routes
- Domestic Routes: 47
- International Routes: 78
- Increase in International Passenger Transport: 15%
- Increase in Overall Flights (compared to same period last year): 23%
- Increase in Overall Passengers (compared to same period last year): 26%
- Increase in International Flights (compared to same period last year): 57%
- Increase in International Passengers (compared to same period last year): 106%
- On-Time Performance (OTP): 87%
- Technical Reliability Rate: 99.7%
- Total Singapore-Vietnam Routes: 7
- New Singapore-Nha Trang Route Launch Date: October 29
- Singapore-Ho Chi Minh City Flights: Up to 3 daily
- Singapore-Hanoi Flights: Up to 2 daily
- Singapore-Da Nang Flights: Up to 1 daily
- Singapore-Phu Quoc Flights: Up to 1 daily
- Singapore-Da Lat Flights: Up to 4 weekly
- Singapore-Nha Trang Flights: Up to 4 weekly
- Singapore-Can Tho Flights: Up to 3 weekly
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