Vietjet has started the year with a strong first quarter after reporting its consolidated revenue of $702.4 million, growing 38% year-on-year (YoY). Additionally, it reported its after-tax profits had surged an impressive 212% at $21.3 million.
Its air transport revenue was $701 million, up 38% YoY, and after-tax profit was up 209% YoY at $20.5 million. It reported a growth of 61% YoY in terms of passenger numbers, as well as a 53% increase in the number of flights; no doubt boosted by its 15 new international and domestic routes opened over the course of the first quarter.
It also reported its total assets at the quarter's end amount to around $3.4bn. It said its debt-to-equity ratio was at 1.9 and its liquidity ratio was at 1.3. Vietjet added that it had paid approximately $70 million in ""direct and indirect taxes and fees"" in the first quarter of the year.
The airline aims to further expand its international network, planning to operate 142,000 flights and carry over 27 million passengers throughout the year.
Vietjet reports robust first quarter with $21 million profit
