Vietjet parent organisation has reported a profit of over USD 38.7 million in the year 2022
Vietnamese low cost carrier Vietjet says its parent organisation has reported a profit of over USD 38.7 million in the year 2022 even as the airline itself transported 20.5 million passengers on 116,000 flights in the year gone by.
In a press statement, Vietjet says that the number of domestic passengers on its planes in 2022 was higher than even in 2019. It says that it carried 20 pc more domestic passengers in 2022 than in 2019. It adds that the number of domestic passengers transported in fourth quarter of 2022 increased seven-fold year YOY and was higher than the pre-pandemic growth rate of 24 pc.
In Q4, 2022, Vietjet’s parent company reported a net revenue of VND 7,352 billion, about USD 315.5 million, 175 pc year on year growth with a profit of VND 902 billion. The total revenue for 2022 was VND 32,506 billion, while the profit was VND215 billion. The airline says it has paid a total of VND 4,349 billion of direct and indirect taxes, fees and charges last year.
Vietjet reported consolidated revenue of VND 39,342 billion in 2022, with a consolidated loss of VND 2,171 billion mainly due to heavy capital investment in its core business. Vietjet has transferred more than VND 3,559 billion of profit to the parent company for asset investment in acquiring one new A321 NEO aircraft from Airbus, two A321 aircraft from lessors and three aircraft engines.
By the end of 2022, Vietjet’s total asset reached more than VND 67,000 billion, increasing by 30 pc over the year due to long-term assets growing by over USD 200 million.
To accommodate its stratety of expanding and growing middle-range international flight network, Vietjet has developed a widebody fleet of three A330 aircraft. The airline says it has opened 20 new routes last year with a focus on the Indian market to connect economic-tourism hubs like New Delhi Mumbai to Hanoi and Ho Chi Minh City. As of December 31, 2022, Vietjet operated 103 flight routes, it says.
Aiming to operate across continents and bring the flying opportunities to millions of people, Vietjet says it has continued to develop its international network with new routes to Astana and Almaty in Kazakhstan and Melbourne and Sydney in Australia. Such efforts also put Vietjet in the leading role to promote the economic-trade-tourism relationships between Vietnam and other countries, helping to bring Vietnam’s image to the world while taking local and international tourists to destinations in the country.
The airline says that in 2023, it has set a goal of revenue growth based on the reopening of the Chinese market while further promoting international markets of great potential like India, South Korea, Japan and Australia. It is of the utmost urgency that the Government considers lifting the price cap on flights and allows for fuel surcharge to strengthen the positions and competitive capabilities of domestic airlines as a wave of international airlines is expected to land in Vietnam this year, it says.
