Success Story: Vietjet Posts Profits of US$131 Million for the First Nine Months of 2017

VJ_planeVietjet Aviation Joint Stock Company (HOSE stock code: VJC) has just announced its preliminary business results for the first nine months of 2017, with a profit reaching VND 2,982 billion (USD 131 million).
And for the third quarter of 2017, Vietjet’s revenue and profit increased significantly compared with the same period last year and exceeded its plan. The profit increase is attributed to the expansion of new routes and operation improvements of existing routes. Specifically, air transport revenue reached VND 6,142 billion (USD270 million), an increase of 34.4% compared with the same period of 2016. Pre-tax profit stands at VND 1,054 billion (USD46 million), an increase of 35.1% year on year. The total profit for the first nine month reached VND 2,982 billion (USD131 million).
Up to September 30, 2017, Vietjet’s total assets stood at VND 26,289 billion (nearly USD1.2 billion), an increase of 57.39% year on year. For the first nine months of this year, the airline took delivery of five additional aircraft, and launched 13 new routes, increasing its network to 73 destinations, with 38 domestic and 35 international routes. The OTP for the nine months was 85.4%.
In the fourth quarter, Vietjet is expected to open six new routes, making it a total of 19 new routes added in 2017.