Vietjet Aviation Joint Stock Company (HOSE: VJC) has unveiled its audited financial results for the first half of 2024 (H1/2024), showcasing impressive year-over-year (YoY) growth in both revenue and profit.
The airline's air transport revenue for the first six months of 2024 reached VND 33.862 trillion (approximately US$1.37 billion), slightly surpassing previous financial estimates. Vietjet reported a pre-tax profit of VND 1.166 trillion (about US$47.38 million), reflecting a remarkable 688% YoY increase.
For H1/2024, Vietjet’s consolidated revenue totaled VND 34.030 trillion (approximately US$1.38 billion), and consolidated pre-tax profit exceeded VND 1 trillion (about US$40.63 million), representing YoY increases of 15% and 307%, respectively. During this period, the airline contributed VND 3.687 trillion (around US$146.78 million) in direct and indirect taxes and fees.
As of June 30, 2024, Vietjet's total assets amounted to over VND 92.205 trillion (approximately US$3.74 billion), with a debt-to-equity ratio of around 2.16—well below the global average of 5. The airline’s liquidity ratio stood at 1.39, indicating a favorable position within the aviation industry.
Vietjet transported 13.1 million passengers on more than 70,000 safe flights in H1/2024. The number of international passengers reached 5.5 million, with international flights surpassing 28,300—YoY increases of 52% and 43%, respectively. These figures solidify Vietjet’s position as a leading airline in passenger volume.
Operating over 149 routes, including 38 domestic and 111 international, Vietjet boasts a fleet of more than 105 aircraft (including those operated by Vietjet Thailand). The airline continues to expand its global network and develop a modern, eco-friendly fleet. At the Farnborough International Airshow earlier this year, Vietjet and Airbus signed a deal for 20 new-generation A330neo (A330-900) aircraft, valued at US$7.4 billion.
Vietjet Aviation Academy (VJAA) has also become a training partner of the International Air Transport Association (IATA), reflecting the airline’s commitment to developing aviation talent to international standards.
Since 2019, Vietjet has been a leader in establishing direct flight routes between Vietnam and India, currently operating seven routes with 56 weekly flights connecting Hanoi and Ho Chi Minh City with major Indian cities such as New Delhi, Mumbai, Ahmedabad, and Kochi. A new route between Ahmedabad and Da Nang will commence in October 2024. Vietjet has already transported nearly 1.3 million passengers between Vietnam and India, serving a market of 1.4 billion people.