Positive business performance for Vietjet in May 2017

Eleanor Steed
By Eleanor Steed June 28, 2017 14:58

Positive business performance for Vietjet in May 2017

Vietjet has recorded a revenue of approximately VND 8,352 billion in May 2017, an increase of 44 per cent compared to the same period for the preceding year and exceeded budgeted forecast by nine per cent.

The delivery of three new aircrafts in May has contributed to Vietjet’s plans to build a new generation and modern aircraft fleet, launch new international routes and increase frequencies of international flights to meet the increasing travel demand of domestic passengers during high seasons.

This included the launch of the Da Nang – Seoul route and a sales campaign for the Hanoi and Yangon (Myanmar) route, which is expected to operate from 31 August 2017. In addition, Vietjet also increased frequencies of international routes to 11 return flights per week from 21 July 2017 for the Hanoi – Taipei (Taiwan) route and 14 return flights per week from 2 August 2017 for the Hanoi – Seoul (Korea) route.

Along with the series of new routes, Vietjet has remained its high load factor of over 88 per cent. In the first five months of 2017, Vietjet operated nearly 39,100 safe flights and transported more than 6.5 million passengers, which is an increase of 29 per cent compared to same period in 2016. In May 2017 alone, it carried over 1.5 million passengers.

As at end May, Vietjet operates its own online ticket distribution channel and consumer services which stood at 21,378 sales points, an increase of 2,803 points compared to the 31 December 2016 period.

During the visit of Vietnamese Prime Minister Nguyen Xuan Phuc to the US in late May, Vietjet signed agreements worth US$4.7 billion with CFM International, GECAS and Honeywell Aviation, as witnessed by the Vietnamese Prime Minister and US Secretary of Commerce Wilbur L. Ross, Jr.

Later, in Tokyo, Japan, Vietjet and Mitsubishi UFJ Lease & Finance (MUL), a member of Japan’s leading finance group Mitsubishi UFJ Financial Group (MUFG), signed a strategic agreement which would pave the way for MUL to finance Vietjet’s acquisition of three brand new A321 aircraft, worth US$348 million.

Vietjet at Changi International Airport

Eleanor Steed
By Eleanor Steed June 28, 2017 14:58