Vietjet reports profit in 1Q thanks to expansion efforts after Covid

Vietjet Aviation JSC has achieved its target revenue and reported a profit in the first quarter of this year thanks to the effort to accelerate operations, expand new flight routes, and improve service quality. Since the Covid-19 pandemic was brought under control last year, in addition to the restoration of the domestic flight network, Vietjet was the pioneer air carrier in expanding international routes to cover the sky throughout Asia and start to expand to Oceania. At the end of 2022, Vietjet opened new flight routes to Delhi, Mumbai, and Ahmedabad cities in India, a country with a population of 1.4 billion, and Kazakhstan, which stretches across Asia and Europe and has the ninth largest area in the world.

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In early 2023, the airline reopened a route connecting Ho Chi Minh City with Hong Kong and increased the frequency to seven weekly flights. It also welcomed A330 – a wide-body aircraft – to its modern fleet, starting the journey to explore further destinations in the region and the world. Vietjet has put the A330 into operation on new international routes that were opened in early April, including routes connecting Ho Chi Minh City to Australia’s Melbourne and Sydney, officially conquering transcontinental commercial routes. Under its plan, from now to June, Vietjet will continue to expand its flight network with new international routes, including Phu Quoc-Hong Kong, Da Nang-Hong Kong, Ho Chi Minh City-Brisbane (Australia).

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For the domestic market, the carrier will launch the Can Tho-Van Don (Quang Ninh) route, connecting the two key economic regions of the Cuu Long (Mekong) River Delta and the Hong (Red) River Delta, creating favourable conditions for accelerating economic development between the two regions. The expansion of new routes showed that Vietjet had overcome difficulties caused by the pandemic and is ready for stronger development plans in the remaining months of 2023 and the following years. Vietjet’s new routes not only create opportunities for Vietnamese people to discover new destinations but also play a role as a bridge to attract foreign tourists and investors to Vietnam, promoting the country’s tourism and economy. In addition, Vietjet has also launched many attractive ticket promotions and provided new products and services to help passengers have more experiences on its flights.


The acceleration effort taken right from the first months of 2023 has brought Vietjet positive business results. Accordingly, the airline has operated 31,260 flights which handled 5.4 million passengers, and earned revenues of 12.6 trillion dong (US$538mil or RM2.37bil) in the first quarter. As a new-age carrier, Vietjet has not only revolutionised the aviation industry in Vietnam but has also been a pioneering airline across the region and worldwide. With a focus on cost management ability, effective operations, and performance, 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 the International Air Transport Association (IATA) with the IATA Operational Safety Audit certificate. As Vietnam’s largest private carrier, the airline was awarded the highest ranking for safety with seven stars in 2018 and 2019 by the world’s only safety and product rating website Vietjet was also listed as one of the world’s 50 best airlines for healthy financing and operations by Airfinance Journal in 2018 and 2019. The airline has also been named Best Low-Cost Carrier by renowned organisations such as Skytrax, Capa, Airline Ratings, and many others. According to the latest report of the International Civil Aviation Organisation (ICAO), the global air passenger volume will return to pre-epidemic levels on most routes by the end of the first quarter. It will increase by 3% by the end of the year and 4% in 2024 compared to 2019. There is firm ground for ICAO’s forecast as the coming summer is anticipated to be the most robust travel season since 2019. German travel and tourism group, Tui group, said that this year’s bookings were promising, with 8.7 million for the summer and winter of 2023. The first quarter saw 3.3 million bookings.

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Source: Viet Nam News/ANN

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