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Vietnamese budget carrier Vietjet reports surge in 2023 revenue

Vietnamese budget carrier Vietjet reports surge in 2023 revenue

Friday, February 02, 2024, 12:10 GMT+7
Vietnamese budget carrier Vietjet reports surge in 2023 revenue
Vietjet’s aircraft maintenance center in Laos. Photo: Tuoi Tre

Vietnam's low-cost air carrier Vietjet has released its 2023 business results, noting that its separate and consolidated revenue surged 62 and 56 percent, respectively, over 2022.

The airline earned VND53.6 trillion (US$2.2 billion) in separate revenue and VND62.5 trillion ($2.6 billion) in consolidated revenue last year.

Its separate and consolidated after-tax profits reached VND697 billion ($28.6 million) and VND344 billion ($14.2 million), respectively.

As of December 31, 2023, Vietjet’s assets totaled VND84.6 trillion ($3.5 billion), up nearly 25 percent over the beginning of the year.

The firm’s debt-to-equity ratio stayed at two, well below the global aviation industry range of three to five.

In 2023, Vietjet contributed some VND5.2 trillion ($213.1 million) to the state budget through taxes and fees.

The air carrier operated 133,000 flights, carrying 25.3 million passengers, including over 7.6 million international customers, surging 183 percent against 2022.

It opened an additional 33 air routes last year, raising its air routes to 125 with 80 international and 45 domestic routes.

Its flights had an average occupancy rate of 87 percent and a technical reliability rate of 99.72 percent.

Vietjet also transported 81,500 metric tons of cargo last year, skyrocketing 73 percent year on year.

In order to meet demand, the air carrier has invested in its fleet of new-generation aircraft. As of the end of last year, it had 105 planes.

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Thanh Ha - Khanh My / Tuoi Tre News

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