VietJet, pax up by 51% in 2016, targets $149M profit in 2017
Vietnam’s LCC Vietjet reported during its Annual Shareholders’ Meeting held on April 20, 2017, that in 2016 Vietjet received 12 new aircraft, increasing its fleet to 41 aircraft including 30 A320 and 11 A321 aircraft, transporting 14.05 million passengers, an increase of 50.9% compared to 2015. Vietjet also announced that in 2017 it targets of VND42,018 billion ($1.85 billion) in revenue, VND3395 billion ($149.4 million) profit after tax and the payment of cash and stock dividends of 50% in 2017. The airline will also seek the removal of the foreign ownership cap.
In 2016, the airline operated 84,455 safe flights, recorded high percentage of OTP at 83.57% and of technical reliability at 99.57%, being listed in the top airlines that operate A320/A312 family in the region, according to Vietjet.
Flight operation, ground operation and engineering safety indicators are listed in the group of highest quality airlines in the region. The airline also recorded in 2016 its turnover of VND27,499 billion ($1.21 billion), after tax profit of 2,496 billion ($109.87 million) , an increases of 38.6% and 113.2% respectively compared to 2015, exceeding 3 percent and 9 percent respectively over the target. Earnings per share stood at VND9,586 ($0.42).
In 2017, Vietjet is committed to operating the airline with top priorities on safety and reliability, continuing to innovate to improve service quality and operation efficiency and managing the listed company as per international standards and in accordance with Vietnamese Accounting Standards (VAS) and International Financial Reporting Standards (IFRS).
“Vietjet is ready to conquer new heights. I am confident that there is a bright future in the air and Vietjet is making every effort to bring it closer," said Vietjet Chairwoman Nguyen Thanh Ha.
The company also agreed to allocate profit with an average rate of 118.71%, expects to pay a 10% cash dividend on 10-May-2017 and will pay a bonus share dividend of 40%.