In 2024, Vietjet Records Highest Business Results Since Covid-19

(MENAFN- ForPressRelease) Mumbai, February 5, 2025 – Vietjet achieved impressive business growth in 2024, expanding its international flight Network and modern fleet while driving record revenue and profit. The airline's continued success marks a significant milestone in its recovery and expansion after the COVID-19 pandemic, with Indian destinations playing more important role.

Strong operational growth with record revenue

According to the financial results for Q4-2024, Vietjet recorded Aviation revenue of VND19.776 trillion (approx. INR 68.5 billion) and after-tax profit of VND167 billion (approx. INR 577 million), representing a 36% and 247% YoY (year-on-year) growth, respectively. For the entire year of 2024, the airline's aviation revenue reached VND71.545 trillion (approx. INR 245 billion), with after-tax profit exceeding VND1.301 trillion (approx. INR 4.5 billion), increasing by 33% and 697% YoY, respectively.

In the final three months of 2024, Vietjet's consolidated revenue also saw a strong performance, totaling VND19.797 trillion (approx. INR 68.6 billion), while after-tax profit reached VND21.4 billion (approx. INR 74 million), reflecting a respective YoY increase of 36% and 8%. For the year, the airline recorded VND71.859 trillion (approx. INR 249 billion) in consolidated revenue, with after-tax profit surpassing VND1.426 trillion (approx. INR 4.9 million), witnessing a rise of 23% and 516% YoY, respectively.

As of December 31, 2024, Vietjet's total assets amounted to nearly VND99.5 trillion (approx. INR 345 billion), with a debt-to-equity ratio of 2.12 and a liquidity ratio of 1.71, both considered within the safe zone for the aviation industry.

In 2024, Vietjet transported over 25.9 million passengers with 137,000 flights across 145 routes, including 44 domestic and 101 international routes. The airline has recorded the highest volume of passengers among Vietnamese carriers.

Vietjet also successfully met its target of receiving 10 new aircraft in 2024. Its expanding fleet operates with an average load factor of 87% and a technical reliability rate of 99.72%.

International expansion and first U.S. flight

The airline's strong business results reflect its strategy to expand internationally while maintaining a stable domestic network. In Q4-2024, Vietjet launched direct flights between Ahmedabad and Da Nang, as well as between Ha Noi and Kuala Lumpur. The airline has recently also announced new routes connecting Hyderabad and Bangalore, as well as Beijing and Guangzhou to Vietnam's major cities, deepening connections with these two populous and high-potential markets.

In a historic development, Vietjet has operated its first-ever flight from Vietnam to the United States. During this landmark trip, the airline discussed collaborations worth approx. US$14 billion with strategic U.S. partners. These discussions follow previous agreements with Boeing, GE, CFM, Pratt & Whitney, and Honeywell, collectively valued at nearly US$50 billion. Additionally, the airline is exploring cooperation with SpaceX and in-flight internet technology providers to support its fleet, embracing digital innovation to improve customer experiences.

Entering 2025, Vietjet is committed to maintaining its pioneering position in connecting Vietnam with the world through an ever-expanding international flight network. The airline aims to be a leader in both sustainability and technology, contributing to global trade, investment, and cultural exchange.

About Vietjet

The new-age carrier Vietjet has not only revolutionized the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations and performance, Vietjet offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers' demands.

Company :-MSL Group

User :- Devanshi Shah

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