Monday, April 3, 2017

Vietjet saw robust growth in 2016

Local budget carrier Vietjet has just released its 2016 audited consolidated financial statement, attesting to the company's strongest growth both in revenue and profit targets since its official debut in 2011.

Accordingly, the company posted around VND27.5 and VND2.49 trillion ($1.25 billion and $113 million) in revenue and after-tax profit last year, a 39 and 113 per cent jump against 2015.

Vietjet's earnings-per- share (EPS) reached VND9,586, propelling the company to the list of top performers in Vietnam's two bourses, the Hanoi Stock Exchange (HNX) and the Ho Chi Minh City Stock Exchange (HoSE).

These achievements came on the back of the company's strenuous efforts to launch new routes as well as effectively exploit existing ones, and its efficient management of operating costs through leveraging cutting-edge technologies.

Vietjet has become a full member of the International Air Transport Association (IATA) this February, well ahead of most budget airlines, the brunt of whom do not yet meet the organisation's stringent requirements.

The technical safety level of Vietjet's A320/321 aircraft fleet reached 99.57 per cent, the highest among the company's peers in the Asia-Pacific region, while its flight punctuality was 83.6 per cent.

By the end of 2016, the company's passenger transport market share on local routes accounted for 41 per cent. Most recently, on March 30, Vietjet launched the Hanoi-Siem Reap route. This year, the airline is set to open four more local and 22 international routes, increasing its repertoire to 86 routes in total.

Also, by the end of last year, Vietjet saw 67 per cent growth in its total asset value, to more than VND20 trillion ($912 million), and 120 per cent growth in its equity, to reach VND4.73 trillion ($215 million).

The company has just sold 22.3 million shares successfully through private placements, taking back more than VND1.66 trillion ($75 million) in surplus value.

On February 28, Vietjet offloaded 300 million shares on the HoSE with a starting price of VND90,000 ($4) apiece.

On the closing session of March 31, a month after the company's debut, its shares (coded VJC) rose to more than VND128,000 ($5.8) apiece, jumping an impressive 42 per cent.

The new ticker has appeared to be very appealing to foreign investors, who have reported 10 successive VJC net buying sessions recently.

Vietjet is Vietnam's first airline operating under a new generation, low-cost carrier model providing diversified services to customers. Besides aviation transport, the company is ready to satisfy diverse consumer demands for products and services through cutting-edge e-commerce applications.

As of now, the company operates a fleet of 45 A320s and A321s with about 350 flights a day, and has transported nearly 35 million passengers on 63 routes to domestic and international destinations.


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