Vietjet targets 27 million passengers and a 25% dividend  payout for 2024

 Vietjet Aviation Joint Inventory Firm (HoSE: VJC) lately  concluded its 2024 Normal Assembly of Shareholders (GMS), the place it accredited the annual  marketing strategy for 2024. The airline is poised to take care of its stronghold within the home market and  additional increase its worldwide flight community.  Vietjet has additionally reported exceptional enterprise leads to Q1/2024, paving the best way for a profitable  12 months forward.

Excessive development targets for 2024 

In the course of the GMS, Vietjet outlined its aspirations for the 12 months, concentrating on air transport income and  consolidated income to exceed VND59 trillion (approx. SGD3.17 billion) and VND65.5 trillion  (approx. SGD3.52 billion) respectively. These aims characterize a ten% and 12.4% YoY development,  with plans to soundly function 142,000 flights accommodating greater than 27.4 million passengers  onboard.

Vietjet’s Board of Administrators additionally endorsed the 2024 revenue distribution plan, proposing dividends  and superior dividends to be paid in money and inventory at a most ratio of 25%.

Increasing horizon 

With a number one market share within the area, Vietjet goals to fortify its presence within the home market  whereas strongly increasing its world footprint. New locations in South Asia, Central Asia,  Australia, and Europe are on the radar, constructing upon current routes equivalent to Singapore to Ho Chi  Minh Metropolis, Hanoi, and Da Nang, and journeys to locations equivalent to Shanghai, Vientiane,  Australia, Busan, Siem Reap, Hong Kong, Taipei, Jakarta, and extra.

Q1/2024: excellent efficiency, a powerful enhance for the whole 12 months 

In Q1/2024, Vietjet noticed substantial development in air transport income, recording VND17.76 trillion  (approx. SGD953 million), and after-tax revenue at VND520 billion (approx. SGD27.9 million),  marking a 38% and 209% YoY enhance, respectively. The airline’s consolidated income and after tax revenue have been VND17.79 trillion (approx. SGD955 million) and VND539 billion (approx.  SGD28.9 million) rising by 38% and 212% YoY, respectively.

In the course of the first three months of 2024, Vietjet safely operated practically 34,500 flights, serving over  6.3 million passengers, with a median load issue fee reached 87% and a exceptional technical  reliability fee of 99.6%.

Increasing Internationally 

Vietjet’s worldwide passenger transport in Q1/2024 surged by over 53% and 61% YoY in phrases  of numbers of flights and passengers, respectively. The airline has launched 15 new worldwide  and home routes over three months, lifting its complete working routes to 140. These among the many  newest worldwide routes being launched embody Phu Quoc – Taipei, Ho Chi Minh Metropolis – Chengdu/Xi’an, along with Hanoi to Hiroshima and Sydney/Melbourne.

As of 31 March 2024, Vietjet’s complete belongings surpassed VND85.82 trillion (approx. SGD4.6 billion),  sustaining a wholesome debt-to-equity ratio of 1.9 and a liquidity ratio of 1.3, each effectively inside the aviation trade requirements.

Past connecting Vietnam to the world by way of its flight community, Vietjet is actively engaged in worldwide analysis and know-how funding initiatives, solidifying its place on the worldwide  stage.