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Vietjet’s profit reaches VND2,982 billion after 9 months

Vietjet’s profit reaches VND2,982 billion after 9 months

Vietjet Aviation Joint Stock Company has announced its preliminary business results of the third quarter (3Q2017) and the first nine months ended 2017.

For 3Q2017, Vietjet’s revenue and profit increased significantly compared to the same period last year. The airline also exceeded expectations thanks to the expansion of new routes and operational improvements of existing routes.

Air transport revenue reached VND6,142 billion, an increment of 34.4% compared to the same period last year.

The airline’s pre-tax profit for 3Q2017 stood at VND1,054 billion, an increase of 35.1% year-on-year and its nine month accumulated pre-tax profit reached VND2,982 billion.

As of 30 September 2017, Vietjet’s total assets stood at VND26,289 billion, an increase of 57.39% year-on-year. In the first nine months of 2017, Vietjet received five additional aircrafts and commenced 13 new routes, raising the total number of existing routes to 73, which includes 38 domestic routes and 35 international routes. The on-time performance (OTP) rate over the reviewed period reached 85.4%.

In the fourth quarter, Vietjet plans to open six new routes, increasing the total new routes by 19 for the year 2017.

Based on the current business results, Vietjet expects its pre-tax profit in 2017 to exceed 10% of the budgeted plan which was approved at the annual shareholder meeting.

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Read the full article: https://eturbonews.com/169093/vietjets-profit-reaches-vnd2982-billion-9-months

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