Hanoi (VNA) - Vietjet Aviation Joint Stock Company (HOSE: VJC)has released its half-year audited financial statements for 2021, which saw abigger post-tax profit of the parent company over its compiled reports.

According to the financial statements audited by PwC, Vietjet as a parentcompany had its transport revenue reaching 5,022 billion VND (approx. 220million USD) for the first six months of this year. Its profit after tax wasreported at 34.2 billion VND (approx. 1.5 million USD), a year-on-year leap of102 percent thanks to profits gained from new project investments. Theairline’s audited after-tax profit has also increased by 148 percent comparedto that in its compiled reports.

Vietjet posted its consolidated revenue at 7,556 billion VND (approx. 332million USD) while the consolidated profit after tax reached 121.8 billion VND (approx.5.3 million USD), showing a remarkable year-on-year growth of 161 percent.


Vietjet’s assets totaled 49,855 billion VND (approx. 2.18 billion USD) whileits owner equity was at 16,975 billion VND (approx. 745 million USD) includingtreasury shares.  Its liquidity ratioremained at 1.31 while the debt-to-equity ratio stayed at as low as 0.51. Suchgood financial indicators, which are in the lowest and safest group in theaviation industry, allow Vietjet to keep rolling out its plan for mid- andlong-term capital mobilisation to strengthen its balance sheet.

Vietjet has transported more than 4.8 million of passengers on 34,000 flightsover the first six months of the year. The airline has also focused on refiningoperation protocols and promoting its cargo operations, resulting in a 40 percent-45percent year-on-year growth with a total of more than 37,000 tons of cargodelivered.

Vietjet has opened six new direct flights from Da Lat, Nha Trang, Thanh Hoa,Vinh and Da Nang to Phu Quoc island while introducing a safe and favorabletravel package to promote the island’s economic recovery.

The airline has kept its costs well under control via a series of renovation,innovation and creativity programs and solutions to cut costs. Consequently,the average operating costs per flying hour was down by 71 percent while thecosts of sales and administration declined by 30 percent year-on-year.

Vietjet together with its strategic partners have played a very active role inthe national fight against the COVID-19 pandemic. It has donated to theNational Vaccine Fund, granted medical equipment and cooked charity meals whileairlifted thousands of healthcare workers, millions of vaccine doses andhundreds of tons of medical supplies to the pandemic-stricken localities.

The airline was among the first to pilot the IATA Travel Pass in order togradually resume safe flights. Vietjet was also hailed as one of the world’stop safest and best low-cost airlines by receiving the highest safety rankingof 7 stars by the airline safety review site Airline Ratings.


In efforts to catch up with the 4.0 industry trend, Vietjet is focusing ondigital transformation to develop systems being more convenient to customerswhile facilitating cargo transport and optimising flight operations. Theairline has been proactively looking for alternative sources of revenue like aircargo, cost optimization, extended aviation services and financial investments.

In the meantime, the Vietnamese Government is considering several reliefpolicies including exemption and reduction of several fees, extension of taxpayment deadline, and supports for financial loans to help airlines makethrough the pandemic.

According to the audited statements, there are positive signs considering thefastened COVID-19 vaccine rollouts in many countries in the world, includingVietnam. It is projected that domestic and international flights will be soonresumed.

As soon as its commercials flights take off again later in 2021, Vietjet isready to wing back to the sky to meet the mounting travel demand, contributingto the economic recovery post-pandemic./.