Vietjet President & CEO Nguyen Thi Phuong Thao delivers her speech at the AGM (Photo courtesy of Vietjet)HCM City (VNA) - Amidthe global crisis sparked by COVID-19, Vietjet Aviation Joint Stock Company(HOSE: VJC) has created a foundation for recovery and will look to seizeall opportunities for sustainable development from 2020 thanks to theresources of a robust management system, the airline’s modern fleet andflexible business strategies, especially its strong financial capacity.
The plan was announced byVietjet during its 2020 Annual General Shareholders’ Meeting (AGM) toreview business results from 2019 as well as vote for the approval of auditedfinancial statement and discuss the company’s development plan for 2020 in HCMCity on June 27.
According to Vietjet, since thebeginning of this year, the domestic aviation industry has been impactedseverely in the wake of the COVID-19 pandemic. However, the country has quicklyresumed all domestic operations ahead of most other countries in the world.
As soon as the domestic marketresumed, Vietjet quickly implemented a campaign called "Returning to thesky” and inaugurated eight new routes, increasing the domestic flight networkto a total of 53 routes. Thai Vietjet - a joint venture between Vietjet andThai airline Kan Air - is also the first airline to reopen operationsin Phuket Airport, expanding its network with five new domestic routes inThailand.
After completing the resumptionand expansion of the domestic flight network, Vietjet and thelocal aviation industry are ready to return to international skies fromJuly with careful preparations to control the epidemic and ensure medicalsafety for its passengers and staff while contributing significantly toeconomic and investment recovery.
Currently, the VietnameseGovernment is implementing many practical programmes and solutions to supportairlines such as tax and fee reductions and loans with low rates. Based on thisreality, Vietjet is striving to operate 90 aircraft with more than 118,000flights and transport more than 20 million passengers by the end of 2020.
To this end, Vietjet willconcentrate on carrying out cost-optimising solutions such as fostering itscargo service, aircraft purchase, diversifying credit loans solutions andexpanding self-serving ground operation, and aim for the air transport, itscore business, to reach break-even point by the end of 2020.
The carrier will also continueto strongly grow its loyal customer base and boost the effectiveness offinancial activities and applications on e-commerce platforms while digitallytransforming operating systems and procedure by applying advanced managementsoftware and programmes in operation as well as thoroughly arranging flightroutes and fleet.
At the meeting, Vietjetshareholders agreed to pay a dividend of 2019 up to 50 percent per share.This is the result of the financial accumulation gained from the airline’ssustainable, safe and effective development in recent time.
According to the Executive Board’s reportfrom the AGM, 2019 continued to reveal the airline’s strong growth andsustainable development with positive business results. Also, 2019 marked animportant milestone in the new-age carrier’s journey as the airline celebratedtransporting 100 million passengers.
In 2019, Vietjet's audited air transportrevenue reached more than 41.25 trillion VND (1.77 billion USD), up 22 percentyear-on-year while its pre-tax profit hit over 3.86 trillion VND (166 millionUSD), a yearly hike of 27 percent.
As per the report, Vietjet’sconsolidated pre-tax revenue and profit in 2019 topped 50.6 trillion VND and 4.56trillion VND respectively.
Noticeably, the carrier's ancillaryrevenue saw a significant rise of 36 percent to 11.34 trillion VND in 2019. Theportion of ancillary revenue in the airline’s total air transportation revenuealso increased from 25.3 percent in 2018 to 30.4 percent in 2019,making Vietjet one of the top ranking airlines globally in terms of ancillaryrevenue over total revenue ratio.
Last year, Vietjet opened 34 new routes,increasing the flight network to 139, including domestic routes and 95international routes. Also in 2019, it transported more than 25 millionpassengers, reaching the accumulated transported passenger up to 100 million,creating a solid base for Vietjet’s post-pandemic rebound.
In the same year, Vietjet Aviation Academycontinued to invest, aware that expansion will play a critical role in theairline’s sustainable development plan. The airline’s academy is now one of theregion's leading modern-scale, specialised institutions for aviation training.
Vietjet was also honored to receive a numberof prestigious awards in 2019 such as ASEAN’s Best Aviation Enterprise Awardfrom ASIAN-BAC. The airline was also named ‘Asia Pacific Low Cost Carrier ofthe Year’ by CAPA and one of Vietnam's 50 best listed companies in2019 by Forbes. The airline was also listed in the Top 50 airlines for healthyfinancing and operations for the second consecutive year by AirFinance Journal.
All of these successes achieved in 2019 havehelped Vietjet become a major airline that significantly contributes to thedevelopment of Vietnam’s aviation industry as well as both the national andglobal economic recovery./.
The plan was announced byVietjet during its 2020 Annual General Shareholders’ Meeting (AGM) toreview business results from 2019 as well as vote for the approval of auditedfinancial statement and discuss the company’s development plan for 2020 in HCMCity on June 27.
According to Vietjet, since thebeginning of this year, the domestic aviation industry has been impactedseverely in the wake of the COVID-19 pandemic. However, the country has quicklyresumed all domestic operations ahead of most other countries in the world.
As soon as the domestic marketresumed, Vietjet quickly implemented a campaign called "Returning to thesky” and inaugurated eight new routes, increasing the domestic flight networkto a total of 53 routes. Thai Vietjet - a joint venture between Vietjet andThai airline Kan Air - is also the first airline to reopen operationsin Phuket Airport, expanding its network with five new domestic routes inThailand.
After completing the resumptionand expansion of the domestic flight network, Vietjet and thelocal aviation industry are ready to return to international skies fromJuly with careful preparations to control the epidemic and ensure medicalsafety for its passengers and staff while contributing significantly toeconomic and investment recovery.
Currently, the VietnameseGovernment is implementing many practical programmes and solutions to supportairlines such as tax and fee reductions and loans with low rates. Based on thisreality, Vietjet is striving to operate 90 aircraft with more than 118,000flights and transport more than 20 million passengers by the end of 2020.
To this end, Vietjet willconcentrate on carrying out cost-optimising solutions such as fostering itscargo service, aircraft purchase, diversifying credit loans solutions andexpanding self-serving ground operation, and aim for the air transport, itscore business, to reach break-even point by the end of 2020.
The carrier will also continueto strongly grow its loyal customer base and boost the effectiveness offinancial activities and applications on e-commerce platforms while digitallytransforming operating systems and procedure by applying advanced managementsoftware and programmes in operation as well as thoroughly arranging flightroutes and fleet.
At the meeting, Vietjetshareholders agreed to pay a dividend of 2019 up to 50 percent per share.This is the result of the financial accumulation gained from the airline’ssustainable, safe and effective development in recent time.
According to the Executive Board’s reportfrom the AGM, 2019 continued to reveal the airline’s strong growth andsustainable development with positive business results. Also, 2019 marked animportant milestone in the new-age carrier’s journey as the airline celebratedtransporting 100 million passengers.
In 2019, Vietjet's audited air transportrevenue reached more than 41.25 trillion VND (1.77 billion USD), up 22 percentyear-on-year while its pre-tax profit hit over 3.86 trillion VND (166 millionUSD), a yearly hike of 27 percent.
As per the report, Vietjet’sconsolidated pre-tax revenue and profit in 2019 topped 50.6 trillion VND and 4.56trillion VND respectively.
Noticeably, the carrier's ancillaryrevenue saw a significant rise of 36 percent to 11.34 trillion VND in 2019. Theportion of ancillary revenue in the airline’s total air transportation revenuealso increased from 25.3 percent in 2018 to 30.4 percent in 2019,making Vietjet one of the top ranking airlines globally in terms of ancillaryrevenue over total revenue ratio.
Last year, Vietjet opened 34 new routes,increasing the flight network to 139, including domestic routes and 95international routes. Also in 2019, it transported more than 25 millionpassengers, reaching the accumulated transported passenger up to 100 million,creating a solid base for Vietjet’s post-pandemic rebound.
In the same year, Vietjet Aviation Academycontinued to invest, aware that expansion will play a critical role in theairline’s sustainable development plan. The airline’s academy is now one of theregion's leading modern-scale, specialised institutions for aviation training.
Vietjet was also honored to receive a numberof prestigious awards in 2019 such as ASEAN’s Best Aviation Enterprise Awardfrom ASIAN-BAC. The airline was also named ‘Asia Pacific Low Cost Carrier ofthe Year’ by CAPA and one of Vietnam's 50 best listed companies in2019 by Forbes. The airline was also listed in the Top 50 airlines for healthyfinancing and operations for the second consecutive year by AirFinance Journal.
All of these successes achieved in 2019 havehelped Vietjet become a major airline that significantly contributes to thedevelopment of Vietnam’s aviation industry as well as both the national andglobal economic recovery./.
VNA
