In the first half of 2024, Vietjet surpassed its pre-pandemic performance from 2019. The airline carried 13.1 million passengers on 70,154 flights during this period.
For Q2 2024, Vietjet reported air transport revenue of VND 15.128 trillion (approx. US$ 601.68 million) and a pre-tax profit of VND 517 billion (approx. US$ 20.57 million), marking increases of 23% and 683% year-on-year (YoY), respectively. Over the six months, air transport revenue totaled VND 32.893 trillion (approx. US$ 1.3 billion), up 31% YoY, with a pre-tax profit of VND 1.174 trillion (approx. US$ 46.77 million), surging by 690% YoY.
Vietjet's consolidated revenue for H1 2024 reached VND 34.016 trillion (approx. US$ 1.35 billion), with a consolidated pre-tax profit of VND 1.311 trillion (approx. US$ 52.22 million). These figures represent increases of 15% and 433% YoY, respectively, surpassing 21% of the H1 profit target.
As of June 30, 2024, Vietjet’s total assets were over VND 91.755 trillion (approx. US$ 3.65 billion). The airline’s debt-to-equity ratio was around 2, significantly lower than the global average of 5. Cash and cash equivalents stood at VND 4.1 trillion (approx. US$ 163.18 million) at the end of Q2.
Saigon Ratings has affirmed Vietjet’s long-term credit rating at vnBBB- with a "Stable" outlook. The airline’s ongoing recovery and strategic preparations suggest it will achieve significant advancements more swiftly and sustainably in the medium to long term.
In the first half of 2024, Vietjet paid VND 3.687 trillion (approx. US$ 146.78 million) in direct and indirect taxes and fees.
Leading International Expansion
Vietjet now operates over 149 routes, including 38 domestic and 111 international routes. New routes include connections between Ho Chi Minh City and Xi'an (China), Phu Quoc and Taichung and Kaohsiung (Taiwan, China), and Ho Chi Minh City and Vientiane. The airline has also announced the Nha Trang - Daegu (South Korea) route, set to begin in October 2024, establishing Vietjet as the largest airline operating routes between Vietnam and South Korea.
In the Asia-Australia corridor, Vietjet has introduced routes from Hanoi to Melbourne and Sydney, increasing the total number of routes between Vietnam and Australia to seven. This expansion supports travel, tourism, investment, trade, and educational exchanges, with Vietjet now operating 58 flights per week between the two countries.
Growing a Modern, Green Fleet
Operating a fleet of over 105 aircraft (including Vietjet Thailand), Vietjet is expanding its network globally and investing in a modern, eco-friendly fleet. The Vietjet Aviation Academy (VJAA) has become a training partner of the International Air Transport Association (IATA), providing international-standard aviation training. In H1 2024, VJAA trained over 43,000 students in 3,898 courses, including pilots and aircraft engineers, and commissioned its third simulation cockpit.
Vietjet celebrated various occasions, such as National Unification Day and International Women's Day, with special in-flight experiences and gifts for passengers. At the 2024 Tourism Festival, the airline led the Summer Parade with the message "Protect the blue planet," promoting environmental and wildlife conservation. Vietjet is also pioneering research into sustainable aviation fuel and aims to be a leading green airline.
To support its global network expansion, Vietjet and Airbus signed an order for 20 new-generation A330neo aircraft worth US$ 7.4 billion at the Farnborough International Airshow 2024.
Vietjet received accolades including "Best Low-cost Airline in Southeast Asia" and "Best Finance-Management-Aviation-Vietnam" from International Finance, and "Best Ultra Low-cost Airline" and "Best Low-cost Airline Onboard Hospitality" from AirlineRatings. It was also listed in Forbes' top 50 best listed companies in Vietnam for 2024.
2024 has been a landmark year for Vietjet, marked by significant growth in its mid-range international network and preparation for even more global routes. In India, Vietjet now operates 29 weekly round-trip flights, connecting Vietnam with New Delhi, Mumbai, Ahmedabad, and Kochi, strengthening its presence in the region with modern fleets and tailored promotions.