VietJet continues its recovery, its traffic higher than pre-Covid level

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In the third quarter of 2023, VietJet operated approximately 36,000 flights, carrying 6.8 million passengersincluding more than 2.3 million international passengers, i.e. 10% increase compared to the same pre-Covid period of 2019, and up to 127% compared to 2022.

The load factor of its flights is on average 85%. Air cargo reached 20,300 tons, an increase of 76% year-on-year, accounting for 23% of the market share of goods transported by Vietnamese airlines.

While its restructuring competitor Bamboo Airways suspended its long-haul network, VietJet opened seven new international routes in the third quarter, bringing the total number of routes to 125 (45 domestic and 80 international), operated by a fleet of 103 aircraft. Airbus (including 18 operated by its subsidiary Thai VietJet). It is currently the first airline in terms of capacity to offer flights connecting Vietnam to the five largest cities in Australia: Perth, Adelaide, Brisbane, Melbourne and Sydney. The Vietnamese low-cost airline signed an order with Boeing for the purchase of 200 single-aisle 737 MAX aircraft worth $25 billion – twelve examples will be delivered to Thai VietJet in 2023 and the rest to VietJet over the next five years.

In the third quarter, VietJet’s separate and consolidated revenues reached 13,548 billion VND ($551.38 million) and 14,235 billion VND ($579.34 million), respectively, an increase of 32 percent respectively. and 23% year-on-year. Separate and consolidated profits after tax reached 579 billion VND ($23.58 million) and 55 billion VND ($2.23 million).

Passenger traffic in Vietnam continues to grow rapidly, increasing by 201% year-on-year. During first nine months of 2023, the country welcomed 23.7 million international passengers, up 267% year-on-year. Vietnamese airlines carried around 11.5 million passengers, of which 5.9 million traveled with VietJet, more than 51% of the total.

John Walker Avatar