Vietjet has announced its business results for the second quarter of 2018, boasting robust growth in core business activities including air transport and ancillary revenue.
Air transport revenue in the second quarter reached VND8,588 billion, increasing some 52% compared with the VND5,648 billion earned in the same period of 2017. Profit before tax for air transport in the quarter reached some VND950 billion compared with VND661 billion earned in the same period last year.
While the load factor in the second quarter was up 28% year-on-year because the carriers were active in regulating their load factor when the fuel price increased, air transport in the second quarter increased by more than 52%, which helped boost the operating profit by over 43% in the context of fuel price (MOPS JET A1) rising from US$82.5 per barrel to US$88.92 per barrel.
This result confirmed that the company’s efficiency and operating ability was assured even when the fuel price increased, by regulating the load factor, saving operating costs and increasing ancillary revenue.
In Q2 of 2018, Vietjet carried over 5.8 million passengers, an increase of 28%,. Around 4.2 million of them were domestic passengers, up 12.7% over the same period of 2017, and more than 1.6 million were international passengers, up 96%.
Accumulated air transport revenue in the first six months of 2018 reached VND16,478 billion, an increase of 52.6%. Air transport profit stood at VND1,686 billion, an increase of 53.4% over the same period of 2017, finishing at 56.2% of the 2018 plan.
In the first six months of 2018, Vietjet continued to lead domestic passenger traffic, with 59,944 flights, up nearly 22%.
According to its plan, Vietjet will receive 17 Airbus aircraft in 2018, of which the carrier has received four Airbus A321 planes in the first six months.
Vietjet is expected to exceed its 2018 targets based on the positive business results of the first six months- The Saigon Times.
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