The airline transported a total of 13.1 million passengers on 70,154 safe flights in H1 2024. Cumulative air transport revenue for the previous six months reached VND 32.893 trillion (approx. US$ 1.3 billion), up 31% YoY
Vietjet Aviation Joint Stock Company has released its financial statement for H1 2024, reporting record revenue growth.
In the first six months of 2024, Vietjet’s operations outperformed those of pre-pandemic 2019. The airline transported a total of 13.1 million passengers on 70,154 safe flights in H1 2024.
In Q2 2024, Vietjet reported air transport revenue of VND 15.128 trillion (approx. US$ 601.68 million) and a pre-tax profit of VND 517 billion (approx. US$ 20.57 million), growing by 23% and 683% respectively year-on-year (YoY). Cumulative air transport revenue for the previous six months reached VND 32.893 trillion (approx. US$ 1.3 billion), up 31% YoY. Pre-tax profit was recorded at VND 1.174 trillion (approx. US$ 46.77 million), surging by 690% YoY.
The airline reported H1 consolidated revenue of VND 34.016 trillion (approx. US$ 1.35 billion) and consolidated pre-tax profit of VND 1.311 trillion (approx. US$ 52.22 million), increasing by 15% and 433% respectively YoY. The profit exceeded 21% of the H1 target.
As of June 30, 2024, the airline’s total assets reached over VND 91.755 trillion (approx. US$ 3.65 billion). The debt-to-equity ratio remained around 2, while the global average was 5. Cash and cash equivalents at the end of Q2 were reported at VND 4.1 trillion (approx. US$ 163.18 million).
According to Saigon Ratings, an independent credit rating organization, Vietjet has maintained a long-term credit rating of vnBBB- with a “Stable” outlook. Based on the airline’s remarkable ongoing recovery and proactive preparations for future plans throughout 2022 and 2023, Vietjet is expected to achieve breakthrough developments faster and more sustainably in the medium and long term.
Vietjet paid a total of VND 3.687 trillion (approx. US$ 146.78 million) in direct and indirect taxes and fees in the first half of 2024.
