Vietjet Aviation reported a revenue increase to $2.55 billion in 2023, marking a milestone in the global aviation sector
In the past year, the company operated 133,000 flights serving 25.3 million passengers, excluding those on Vietjet Thailand.
This reflected a 183% increase compared to the previous year. Vietjet expanded its network by adding 33 new routes, totaling 125. This includes significant connections like Ho Chi Minh City to Shanghai and Hanoi to Hong Kong.
The airline positioned itself as a leader in the Vietnam-Australia and Vietnam-India markets, launching flights to Australia's five biggest cities and key Indian destinations.
Cargo transport surged by 73% to 81,500 tons. Vietjet's revenues hit $2.18 billion individually and $2.55 billion consolidated, with profits of $28.5 million and $14 million respectively.
In Q4 alone, revenues were approximately $609.47 million and $768.86 million for individual and consolidated accounts, climbing by 89% and 49% respectively, with profits of $2.85 million and $6.21 million.
Non-ticket revenues, including cargo, reached $773.08 million, accounting for 40% of transport income.
With assets exceeding $3.46 billion, Vietjet invested in three A321neo aircraft, maintaining a debt-to-equity ratio of 2 and a liquidity ratio of 1.24. Cash reserves doubled from the previous year to $205.38 million.
The airline invested in a modern and eco-friendly 105-aircraft fleet, which includes wide-body A330s, and reached a deal with Boeing for 200 737 MAX aircraft.
Vietjet achieved an average 87% load factor, a 99.72% technical reliability rate, and a SkyJoy loyalty program with 10 million members.
New services include "Fly Now Pay Later" financial options, Galaxy Pay payment gateway, and online check-in at 18 Vietnamese airports.
Recognized for safety by AirlineRatings, Vietjet focused on safety training and global safety forums. Additionally, in cooperation with Lao Airlines, Vietjet launched an international Aircraft Maintenance Center in Vientiane.
The Vietjet Aviation Academy joined forces with IATA, training over 97,000 students across 6,300 courses, and introduced a third flight simulator.
Enhancing ground services at Noi Bai International Airport was also a focus, contributing to Vietjet's record international expansion and annual revenue growth in 2023.
The airline positioned itself as a leader in the Vietnam-Australia and Vietnam-India markets, launching flights to Australia's five biggest cities and key Indian destinations.
Cargo transport surged by 73% to 81,500 tons. Vietjet's revenues hit $2.18 billion individually and $2.55 billion consolidated, with profits of $28.5 million and $14 million respectively.
In Q4 alone, revenues were approximately $609.47 million and $768.86 million for individual and consolidated accounts, climbing by 89% and 49% respectively, with profits of $2.85 million and $6.21 million.
Non-ticket revenues, including cargo, reached $773.08 million, accounting for 40% of transport income.
With assets exceeding $3.46 billion, Vietjet invested in three A321neo aircraft, maintaining a debt-to-equity ratio of 2 and a liquidity ratio of 1.24. Cash reserves doubled from the previous year to $205.38 million.
The airline invested in a modern and eco-friendly 105-aircraft fleet, which includes wide-body A330s, and reached a deal with Boeing for 200 737 MAX aircraft.
Vietjet achieved an average 87% load factor, a 99.72% technical reliability rate, and a SkyJoy loyalty program with 10 million members.
New services include "Fly Now Pay Later" financial options, Galaxy Pay payment gateway, and online check-in at 18 Vietnamese airports.
Recognized for safety by AirlineRatings, Vietjet focused on safety training and global safety forums. Additionally, in cooperation with Lao Airlines, Vietjet launched an international Aircraft Maintenance Center in Vientiane.
The Vietjet Aviation Academy joined forces with IATA, training over 97,000 students across 6,300 courses, and introduced a third flight simulator.
Enhancing ground services at Noi Bai International Airport was also a focus, contributing to Vietjet's record international expansion and annual revenue growth in 2023.
