Vietjet announces audited financial statement for 2019, solid financial base for recovery after the pandemic

TD Editor

Vietjet

Vietjet Aviation Joint Stock Company has announced its financial statement for 2019, audited by KPMG with positive figures, reflecting strong growth in its core business of air transportation.

In 2019, the airline’s flight network increased by 24%, maintaining its leading position in Vietnam’s domestic market with the total number of transported passengers reaching 25 million, an increase of 28% year on year. The group audited business results of 2019 shows its total revenue of VND 41,252 billion (USD 1.79 billion), increasing by 22% compared to 2018.

The airline received seven aircraft in 2019 while the number for 2018 was 16 aircraft. Consequently, the audited revenue from aircraft sales and leaseback activity stood at VND 9,350 billion (USD 0.40 billion). The carrier’s growing business also attributes to its growth on ancillary revenue, including check-in baggage fees and extra service fees, cargo transportation, inflight services (food, beverages & souvenirs) and advertisements.

As soon as the pandemic is controlled, the airlines with good internal resources and cost management like Vietjet together with its solid financial resources accumulated in 2019 and previous years, is expected to recover quickly and rebound post-pandemic, playing a driving force to restore the economic growth and increase investment in the countries and the world.

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