Vietjet generates strong profits in third quarter of financial 2018

Vietjet generates strong profits in third quarter of financial 2018

Vietjet has continued to generate strong results for its investors through the third quarter of 2018.

The carrier recorded a yearly revenue increase of 105 per cent which currently stands at US$545.6 million.

This increased growth is due to rising air transport, ancillaries, sales, and leaseback revenue.

Over the past nine months, the airline’s revenue reached US$1,455 billion, with a profit after tax of US$158 million, which is up 33 per cent compared to the same period last year.

Vietjet’s air transport profit reached US$382 million, which is a 45 per cent year-on-year increase thanks to the expansion of a new, modern fleet and the launch of new domestic and international routes.

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Air transport revenue was US$1.09 billion in this reviewed time, a yearly hike of 50 per cent, and the air transport revenue after tax was US$97.8 million, making up 76 per cent of its 2018 profit.

So far in 2018, Vietjet has operated a total of 89,690 flights, an increase of 22 per cent that has seen Vietjet fly over 16 million passengers to date.

Aside from the positive business results, the airline’s on-time performance stood at 83.5 per cent, and the technical reliability was 99.6 per cent, with the airline’s flight safety performance and ground operation indicators amongst the top in the region.