VietJet Airways reported a revenue of approximately $553 million almost 286% increase over Q1 of 2022 and after-tax-profit increased by 320% to close at $7.2 million in Q1 of 2023. The airline reportedly produced 33% of its revenue from sales of ancillary products and services.
At the end of March, Vietjet had total assets of more than $2.96 billion with a debt-to-equity ratio of 1.
The airline operated a total of 31,300 flights, up by 57% from 2022 and 5.4 million passengers, recording a rise of 75% as compared to Q1 of 2022. Vietjet achieved an average passenger load factor of 85%.
As of March 2023, VietJet has a fleet of 77 Airbus aircraft, including 18 A320-200s, 36 A321-200s, 18 A321neos and five widebody A330-300s. Last year it carried 20.5 million passengers on 116,260 flights, and this year it's forecasting 25.7 million passengers on 139,513 flights.
In the March quarter the airline introduced ten new routes, four domestic and six international routes, with its network now covering 55 domestic and 50 international routes.
Vietjet has launched new routes from Vietnam to India, Kazakhstan and Australia while also adding new destinations in high-performing markets, including Japan, South Korea and Thailand.