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MAY 2018

Week 19

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VietJet posts US$60 million first quarter profit

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May 11th 2018

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Hanoi-headquartered budget carrier, VietJet Air, reported a first-quarter net profit of VND1.4 trillion (US$60 million); a 263% year-on-year increase. Read More » The airline’s revenue to March 31 was VND12.6 trillion, up 146% compared with the same period in 2017.

The LCC said its first-quarter performance and pre-tax profit were more than 25% ahead of its targets. It has forecast its 2018 full-year net profit will be VND5.8 trillion, 10% higher than in 2017, on revenues of at least VND51 trillion, a 20% year-on-year jump.

Earlier this year, the airline launched its first intercontinental route, a four a week service between Ho Chi Minh City and Brisbane. By 2020, VietJet hopes to launch flights to Europe and possibly North America, although the airline has not ordered any wide body aircraft to support those plans the network expansion.

Vietjet flies an all-Airbus fleet of 53 A320 Family aircraft. It has ordered 80 A320 Family jets and B100 B737MAX200s.

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