Kuala Lumpur, September 11, 2024 — Vietjet Aviation Joint Stock Company (HOSE: VJC) has unveiled its impressive financial results for the first half of 2024, highlighting significant year-over-year growth in revenue and profit.
For the first six months of 2024, Vietjet’s air transport revenue soared to VND33.862 trillion (approximately RM5.98 billion), showing a notable increase compared to previous financial statements. The airline achieved a pre-tax profit of VND1.166 trillion (around RM205.79 million), marking an extraordinary growth of 688% compared to last year.
Consolidated financial results for H1/2024 revealed a total revenue of VND34.030 trillion (approximately RM6 billion) and a pre-tax profit exceeding VND1 trillion (about RM176.49 million). These figures represent year-over-year increases of 15% and 307%, respectively.
By June 30, 2024, Vietjet’s total assets surpassed VND92.205 trillion (approximately RM16.273 billion), while the airline’s debt-to-equity ratio remained favourable at 2.16, well below the global average of 5. The liquidity ratio was reported at 1.39, a healthy figure for the aviation industry.
Saigon Ratings has maintained Vietjet’s long-term credit rating at “vnBBB-” with a “Stable” outlook, reflecting the airline’s successful recovery and strategic foresight during 2022 and 2023. This positive credit outlook suggests continued accelerated and sustainable growth for Vietjet in the medium and long term.
During the first half of 2024, Vietjet made significant contributions to the economy, paying VND3.687 trillion (approximately RM650.71 million) in direct and indirect taxes and fees. The airline transported 13.1 million passengers and operated over 70,000 flights safely. Notably, international passenger numbers surged to 5.5 million, with over 28,300 international flights, marking year-over-year increases of 52% and 43%, respectively.
Vietjet now operates a network of over 149 routes, including 38 domestic and 111 international destinations, supported by a fleet of more than 105 aircraft, including those operated by Vietjet Thailand. At the recent Farnborough International Airshow, Vietjet secured an order for 20 new-generation wide-body A330neo (A330-900) aircraft from Airbus, valued at US$7.4 billion (approximately RM32.147 billion).
The airline continues to expand its modern and eco-friendly fleet, connecting travellers to top destinations across Vietnam and the Asia-Pacific region. Vietjet’s daily flights between Kuala Lumpur and Ho Chi Minh City offer Malaysian travellers convenient access to Vietnam’s attractions and other popular global destinations.
In its commitment to sustainability, Vietjet also invests in developing sustainable aviation fuel (SAF) and aims to be a leader in green aviation technology.
The airline’s achievements have been recognized with several accolades, including “Best Low-cost Airline in Southeast Asia” “Best Finance-Management-Aviation-Vietnam” from International Finance magazine, and “Best Ultra Low-cost Airline” and “Best Low-cost Airline Onboard Hospitality” from AirlineRatings. Vietjet has also been featured in Forbes’ Top 50 Best-Listed Companies in Vietnam for 2024. Additionally, the airline recently won two prestigious titles at the World Travel Awards 2024: “Asia’s Leading Airline for Customer Experience” and “Asia’s Leading Airline Rewards Programme.”
Vietjet’s remarkable performance in the first half of 2024 underscores its rapid growth and commitment to delivering exceptional value and service to its passengers.
