Vietjet plans to transport 27 million passengers by 2024, paying 25% dividend

On April 26, 2024, Vietjet Aviation Joint Stock Company (HOSE: VJC) held the 2024 Annual General Meeting of Shareholders and approved a business plan with the goal of focusing on maintaining domestic market share, promoting Strengthen cooperation and joint ventures to expand international flight routes.

In a context where the aviation industry is facing many difficulties, especially related to fuel costs, Vietjet still achieved many positive results. Individual air transport revenue reached 53,700 billion VND, consolidated revenue 58,300 billion VND, growth of 62% and 45% respectively over the same period in 2022.

Notably, pre-tax and consolidated air transport profits returned to positive, reaching VND 471 billion and VND 606 billion, respectively.

Ancillary revenue and cargo transportation reached nearly 21,000 billion VND, an increase compared to self-reported results and increased by more than 60% compared to 2022, contributing 39% of total air transportation revenue. As of December 31, 2023, Vietjet’s total assets reached more than 86.9 trillion VND.

In 2023, Vietjet will safely operate 133,000 flights, transporting 25.3 million passengers, including more than 7.6 million international passengers, an increase of 183% compared to 2022. Vietjet opens 33 new routes international and domestic routes, bringing the total number of routes to 125, including 80 international routes and 45 domestic routes.

“Regarding the set plans, sometimes our forecasts cannot overcome objective developments“, Vietjet Chairman said, and also gave the example of the Chinese passenger market returning after Covid-19, which has not been as expected.

In that context, she pointed out that Vietjet has been very urgent in opening new markets in India, emphasizing that this is not only a success for the airline, but also for the tourism and investment industry between the two countries.

“When opening a new market we have to invest, leading to increased costs and expected profits to be shared with the market opening. However, we are proud that Vietjet’s costs for opening new markets are the lowest in the world and are controlled extremely effectively.“.

Vietjet plans to transport 27.4 million passengers in 2024, air transport revenue will increase 10% to 59,000 billion VND, consolidated revenue is expected to increase 12.4% to 65,566 billion VND. The company plans for 2024 consolidated pre-tax profit to reach 1,081 billion VND, 2024 parent company pre-tax profit to reach 831 billion VND, an increase of 78.38% and 76.4% respectively over the same period in 2023.

Continuing the achievements achieved in 2023, Vietjet pioneers in connecting Vietnam with the world, bringing the world to Vietnam, from the beginning of 2024 until now, with the slogan “Fly around the world, renew yourself “, Vietjet continues to announce and launch new international routes including Phu Quoc – Taipei (Taiwan, China), Ho Chi Minh City – Chengdu, Xi’an (China), Ho Chi Minh City – Vientiane (Laos) ), and flights from Hanoi to Hiroshima (Japan), Sydney, Melbourne (Australia).

In addition, Vietjet continues to be a factor connecting localities, promoting economic recovery and development across regions.

Leveraging modern digital technology platforms and a comprehensive aviation service ecosystem, Vietjet continuously brings many new and innovative products and services, constantly striving to improve customer experience to bring satisfaction to customers. fun, satisfaction for all customers.

Minh Anh