The financial report for the third quarter of 2022 of Vietjet Aviation Joint Stock Company shows Vietjet’s leadership in domestic and international passenger traffic.
In the third quarter, Vietjet operated more than 35,000 flights with 6.4 million passengers. Domestic passenger transport contributed to the recovery, with flights and passengers increasing by 36% and 44% respectively. Meanwhile, international passenger transport reached about 25% of the pre-Covid-19 level. The total volume of goods transported in the third quarter was 11,500 tons.
Vietjet has exploited more than 10 new international routes, focusing on the Indian market, to bring passengers from big cities in India’s west and central-southern regions to the tourism hubs of Vietnam: Hanoi, Ho Chi Minh City, Da Nang, and Phu Quoc Island.
As of September 30, 2022, Vietjet had operated 84 routes, including 49 domestic routes and 35 international routes. In the first nine months of 2022, the cumulative number of flights and passenger traffic reached 87.7 thousand and 15.4 million, respectively, up 150% and 225% over the same period last year.
Vietjet reported its Q3/2022 revenue of VND 10,256 billion (separate) and VND 11,600 billion (consolidated), soaring 652% and 337% respectively over the same period. After the first 9 months of 2022, Vietjet has completed 85% of the revenue plan. As of September 30, 2022, Vietjet had assets of VND 67,470 billion. The debt-to-equity ratio stands at 1.1, which is considered a good indicator in the airline industry.
Regarding the air transport business, Vietjet recorded an after-tax loss of VND 767 billion (separated) and a profit after tax of VND 43 billion (consolidated). The loss for air transport has decreased by more than 50% compared to 2021. However, the increase in jet fuel prices at an average of USD 130/barrel compared to the average of USD 80/barrel in 2019 has affected the airline business.
Vietjet is one of the leading airlines in the global recovery, with a revenue growth rate of 150% in the first 9 months of 2022.