Profit statements

Vietjet says it posted a profit in the fourth quarter

(PHOTO: Vietjet)

Vietjet Aviation released its financial statements for the fourth quarter of 2021, reporting a consolidated after-tax profit of VND100 billion (approximately US$4.4 million), which saw an increase from the 2020s.

Although the aviation industry continued to suffer setbacks due to the COVID-19 pandemic in 2021, it has shown signs of recovery since late last year thanks to the national vaccination campaign and the implementation strict implementation of disease prevention regulations to ensure the safety of operations and protect health. passengers and flight crew.

In the fourth quarter of 2021, Vietjet recorded a decline in air transport revenue year-on-year to VND 2.789 billion (about USD 122 million). The airline, however, achieved a consolidated revenue of VND12.998 billion in 2021 (approximately US$571 million) with a consolidated after-tax profit of VND100 billion (approximately US$4.4 million). ), an increase of 46% compared to 2020.

As of December 31, 2021, Vietjet’s assets totaled nearly VND51.785 billion (about $2.27 billion). Its debt ratio remained at 0.91 while the liquidity ratio was at 1.63 – all were considered good indicators in the aviation industry.

In 2021, Vietjet operated nearly 42,000 flights on its network with more than 5.4 million passengers on board. The airline recorded revenue of VND 2.954 billion (approximately $130 million) in cargo transportation, achieving rapid growth with cargo revenue in particular increasing by more than 200% year-on-year.

Vietjet has strived to optimize operating cost per flight hour and reduce aircraft rental costs throughout the year. The airline has received government support for the aviation sector, including a 50% waiver of landing and take-off fees, a 50% waiver of environmental protection charges on fuel aviation until the end of 2022 and further reductions for airport fees and ground service fares. .

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