Vietjet Air eyes 10 percent profit growth this year
Low-cost airline Vietjet Air aims to earn nearly 51 trillion VND (2.24 billion USD) in revenue and over 5.8 trillion VND (254.4 million USD) in profit, up 20.5 percent and 10 percent, respectively in 2018.
HCM City (VNA) – Low-cost airline Vietjet Airaims to earn nearly 51 trillion VND (2.24 billion USD) in revenue and over 5.8trillion VND (254.4 million USD) in profit, up 20.5 percent and 10 percent,respectively in 2018.
The goals were adopted at the airline’s annualshareholder meeting in Ho Chi Minh City on April 26.
Vietjet Air plans to operate more than 120,000 flightswith a total of 66 aircraft, an increase from 51 last year, and serve over 24.1million passengers by the end of 2018. Additionally, it will provide services ona total of 100 air routes, including 39 domestic and 61 international airways.
It will increase international flights to destinations inNorth Asia and Southeast Asia and expand cooperation with other airlines thatoperate flights to Europe and America. It is developing plans to launch flightsto Australia, Japan, Indonesia and India.
The carrier will put the Vietjet Aviation Academy intooperation in 2018. The establishment will provide a full flight simulator for flightcrew training, being run in cooperation with aircraft manufacturer Airbus.
In 2017, Vietjet Air carried over 17.11 millionpassengers on over 98,800 flights. It generated 42.3 trillion VND (1.84 billionUSD) in turnover and 5.07 trillion VND (223.08 million USD) in after-taxprofit, a year-on-year surge of 54 percent and 73 percent from the previousyear. Earnings per share reached 11,356 VND.
The airlines’ shares have been listed on the StockExchange of Ho Chi Minh City (HOSE) since last year, demonstrating commitmentby the firm’s Board of Directors to applying international standards inmanagement and ensuring information transparency.
Following positive business results, the carrier’s Boardof Directors received approval from the shareholders to raise the dividend rateof 2017 from 50 percent to 60 percent. Accordingly, the company advanced 30percent dividend payment in cash and will pay another cash dividend of 10percent on May 25. The remainder of 20 percent will be paid in stocks.-VNA
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A Vietjet Air aircraft. (Photo: VNA)
