In the first six months of 2024, Vietjet’s operations outperformed pre-pandemic 2019 with the airline transporting a total of 13.1 million passengers on 70,154 safe flights in H1/2024.

In Q2/2024, Vietjet reported air transport revenue of VND15.128 trillion (approx. US$601.68 million) and pre-tax profit of VND517 billion (approx. US$20.57 million), growing by 23% and 683% respectively YoY.

Cumulative air transport revenue over the previous six months reached VND32.893 trillion (approx. US$1.3 billion), up 31% YoY. Pre-tax profit was recorded at VND1.174 trillion (approx. US$46.77 million), surging by 690% YoY.

Vietjet reported H1 consolidated revenue of VND34.016 trillion (approx. US$1.35 billion) and consolidated pre-tax profit of VND1.311 trillion (approx. US$52.22 million), increasing by 15% and 433% respectively YoY. The profit has even exceeded 21% of the H1 target.

As of 30 June 2024, Vietjet's total assets reached over VND91.755 trillion (approx. US$3.65 billion). The debt-to-equity ratio stayed at around 2 while the global average was at 5. Cash and cash equivalents by the end of Q2 were reported at VND4.1 trillion (approx. US$163.18 million).

According to Saigon Ratings - an independent credit rating organisation, Vietjet has maintained a long-term credit rating of vnBBB- with a "Stable" outlook. Judging on the airlines’ remarkable on-going recovery and its proactive preparations for future plans throughout 2022 and 2023, Vietjet is believed to make break-through developments faster and more sustainably in the medium and long term.

Vietjet has paid a total of VND3.687 trillion (approx. US$146.78 million) of direct and indirect taxes and fees in the first half of 2024.

Leading international expansion

Vietjet is operating more than 149 routes across Vietnam and internationally, including 38 domestic and 111 international routes.

In Australia, Vietjet has added two routes from Hanoi to Melbourne and Sydney, bringing the total number of routes between Vietnam and Australia to seven which has further facilitated bilateral travel, tourism, investment, trade, overseas study, and family visits. Together with the first five routes from Ho Chi Minh City to the five largest cities in Australia (Adelaide, Brisbane, Melbourne, Perth, and Sydney), Vietjet is now the airline operating the most routes between Vietnam and Australia with 58 flights per week.

Vietjet has also launched new routes connecting Ho Chi Minh City with Xi'an - the capital of Shaanxi Province (China), Phu Quoc with Taichung and Kaohsiung (Taiwan, China), and Ho Chi Minh City with Vientiane.

The airline has also announced the Nha Trang - Daegu (South Korea) route, which is expected to be flying since October 2024. It marked Vietjet becoming the largest airline in terms of routes connecting Vietnam and South Korea after a decade-long journey which saw 10 million passengers fly across more than 37 routes between the two countries.

Growing a modern, green fleet

Operating a fleet of more than 105 aircraft (including Vietjet Thailand) with the number of passengers growing annually, Vietjet is actively expanding its flight transcontinental network, developing a new, modern, and environmentally friendly fleet.

Embracing a strategy and vision of building and developing aviation human resources of international standards, Vietjet Aviation Academy (VJAA) has become a training partner of the International Air Transport Association (IATA).

In the first half of 2024, VJAA trained more than 43,000 students enrolled in 3,898 courses, including pilots and aircraft engineers (CRS). The academy also put the third simulation cockpit into operation, continuing to be the leading international pilot training center in the region.

Vietjet has welcomed many trainees to study in a multinational working environment, providing them with knowledge and practical experience. The airline also accompanied universities in career orientation for students, introducing work opportunities at Vietjet.

In order to increase capacity for the development of the global flight network, Vietjet and Airbus recently signed an order of 20 new generation wide body A330neo (A330-900) aircraft worth US$7.4 billion at Farnborough International Airshow 2024.

Vietjet was also honoured by the world's leading financial magazine, International Finance, as "Best Low-cost Airline in Southeast Asia" and "Best Finance-Management-Aviation-Vietnam"; "Best Ultra Low-cost Airline" and "Best Low-cost Airline Onboard Hospitality” by Airline Ratings; and was in Forbes’ top 50 best listed companies in Vietnam in 2024.

The year 2024 has marked the airline’s new milestone of comprehensive development with its expansive mid-range international network, being ready to meet domestic transport demand while further preparing for even more international routes.

About Vietjet

The new-age carrier Vietjet has not only revolutionised the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations, and performance, applying the latest technology to all activities and leading the trend, Vietjet offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers’ demands.

Vietjet is a fully-fledged member of International Air Transport Association (IATA) with the IATA Operational Safety Audit (IOSA) certificate. As Vietnam’s largest private carrier, the airline has been awarded the highest ranking for safety with 7 stars by the world’s only safety and product rating website airlineratings.com and listed as one of the world's 50 best airlines for healthy financing and operations by Airfinance Journal in many consecutive years. The airline has also been named as Best Low-Cost Carrier by renowned organizations such as Skytrax, CAPA, Airline Ratings, and many others.

Further information at www.vietjetair.com