Vietjet registers 127 pc Y-o-Y growth in Q3, 2023

5.9 million international passengers carried in Jan 1-Sep 30
2023-10-31
/
/ New Delhi
Vietjet
Vietjet registers 127 pc Y-o-Y growth in Q3, 2023

During the first nine months of 2023, Vietnam welcomed 23.7 million international passengers through its airports

Vietnamese airline Vietjet says it carried 6.8 million passengers including 2.3 million international travellers in first three quarters of the current year, registering a consolidated revenue of USD 579.34 million the period.
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With a 127 pc rise in the number of passengers carried in the third quarter of the year, compared to the same period in 2022, Vietnamese airline Vietjet reports says it has registered impressive growth performance in the first nine months of the current year. 

In a press statement, the airline reports that it safely operated 36,000 flights and transported 6.8 million passengers including 2.3 million international travellers by end of September 30, 2023.

The airline says that this marks an increase by 10 pc over the third quarter of the pre-pandemic 2019 and up to 127 pc year-on-year. During the first nine months of 2023, Vietnam welcomed 23.7 million international passengers through its airports, rising by 267 pc YoY. In particular, Vietnamese airlines carried 11.5 million travellers of which 51 pc or 5.9 million flew with Vietjet, greatly supporting inbound tourism and international investment.

Vietjet adds that it has reported a relatively high average seat utilisation rate of over 85 pc and a technical reliability rate of 99.72 pc. The total transported cargo volume reached 20,300 tonnes, growing by 76 pc YoY. Vietjet accounted for 23 pc of the cargo market share among Vietnamese airlines.

While meeting the demand for travel to popular destinations abroad, Vietjet’s international routes have contributed to the bilateral development of tourism, trade and investment, offering support to the economic recovery. The statement adds that in the third quarter the airline opened seven new international routes, bringing the total number of routes to 125. It is the first airline to have flights connecting Vietnam with the five largest cities in Australia, including Perth, Adelaide, Brisbane, Melbourne, and Sydney.

Vietjet says that its separate and consolidated revenues were reported at VND 13,548 trillion, about USD 551 million and VND 14,235 trillion or USD 579 million respectively in the third quarter, increasing by 32 pc and 23 pc YoY. Separate and consolidated after-tax profits reached VND 579 billion and VND 55 billion respectively, up by 175 pc and 30 pc YoY.

During the official visit of the United States President Joe Biden to Vietnam, Vietjet signed an agreement with Boeing on the delivery of 200 737 MAX aircraft valued at USD 25 billion over the next five years. It also reached an agreement with Carlyle Aviation for aircraft financing worth USD 550 million.

The airline adds that its international passenger transport continued to witness rapid growth, increasing by 201 pc YoY. It accounted for more than 57 pc of the total passenger revenue and 35 pc of the total number of flights and passengers. Vietjet also focused on ancillary and cargo revenue, which had relatively high profit margins. Their revenue, which reached VND 5,029 billion in total, accounted for 40 pc of the airline’s total air transport-related revenue and grew by 26 pc YoY and 77 pc over third quarter 2019.

With a 127 pc rise in the number of passengers carried in the third quarter of the year, compared to the same period in 2022, Vietnamese airline Vietjet reports says it has registered impressive growth performance in the first nine months of the current year. 

In a press statement, the airline reports that it safely operated 36,000 flights and transported 6.8 million passengers including 2.3 million international travellers by end of September 30, 2023.

The airline says that this marks an increase by 10 pc over the third quarter of the pre-pandemic 2019 and up to 127 pc year-on-year. During the first nine months of 2023, Vietnam welcomed 23.7 million international passengers through its airports, rising by 267 pc YoY. In particular, Vietnamese airlines carried 11.5 million travellers of which 51 pc or 5.9 million flew with Vietjet, greatly supporting inbound tourism and international investment.

Vietjet adds that it has reported a relatively high average seat utilisation rate of over 85 pc and a technical reliability rate of 99.72 pc. The total transported cargo volume reached 20,300 tonnes, growing by 76 pc YoY. Vietjet accounted for 23 pc of the cargo market share among Vietnamese airlines.

While meeting the demand for travel to popular destinations abroad, Vietjet’s international routes have contributed to the bilateral development of tourism, trade and investment, offering support to the economic recovery. The statement adds that in the third quarter the airline opened seven new international routes, bringing the total number of routes to 125. It is the first airline to have flights connecting Vietnam with the five largest cities in Australia, including Perth, Adelaide, Brisbane, Melbourne, and Sydney.

Vietjet says that its separate and consolidated revenues were reported at VND 13,548 trillion, about USD 551 million and VND 14,235 trillion or USD 579 million respectively in the third quarter, increasing by 32 pc and 23 pc YoY. Separate and consolidated after-tax profits reached VND 579 billion and VND 55 billion respectively, up by 175 pc and 30 pc YoY.

During the official visit of the United States President Joe Biden to Vietnam, Vietjet signed an agreement with Boeing on the delivery of 200 737 MAX aircraft valued at USD 25 billion over the next five years. It also reached an agreement with Carlyle Aviation for aircraft financing worth USD 550 million.

The airline adds that its international passenger transport continued to witness rapid growth, increasing by 201 pc YoY. It accounted for more than 57 pc of the total passenger revenue and 35 pc of the total number of flights and passengers. Vietjet also focused on ancillary and cargo revenue, which had relatively high profit margins. Their revenue, which reached VND 5,029 billion in total, accounted for 40 pc of the airline’s total air transport-related revenue and grew by 26 pc YoY and 77 pc over third quarter 2019.

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