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| At the General Meeting of Shareholders (GMS) 2024 of Vietjet. (Photo: Vietjet ) |
The airline aims to maintain domestic market share, promoting cooperation and joint ventures to expand international flight routes.
High growth targets in 2024
The GMS eyes air transport revenue and consolidated revenue to surpass 59 trillion VND (approx. 2.32 billion USD) and 65.5 trillion VND (approx. 2.57 billion USD) respectively, increasing by 10% and 12.4% YoY in the given order. Vietjet is expected to safely operate142,000 flights with more than 27.4 million passengers onboard.
The GMS also approved the 2024 profit distribution plan, in which dividends and advanced dividends will be paid in cash and stock at a maximum ratio of 25%.
The GMS also votes on various important issues targeting at promoting growth while responding flexibly to market changes, leading market trends, and creating new opportunities. Vietjet, with its leading market share, will maintain stability of the domestic market and at the same time expanding its flight network worldwide to new destinations in South Asia, Central Asia, Australia, and towards Europe.
With the slogan “Real deal to new me” for 2024, Vietjet has pioneered in connecting Vietnam to the world. The carrier has announced and inaugurated many new international routes including Phu Quoc – Taipei, Ho Chi Minh City - Chengdu, Xi’an and Ho Chi Minh City - Vientiane, and services from Hanoi to Hiroshima, Sydney, and Melbourne, etc.
Leading international expansion and outstanding business performances in 2023
The financial statements for 2023 showed that despite the challenging economic situations in Vietnam and the world with volatile exchange rates and high oil prices. The expansion of its international network drove robust revenue, resulting in a positive balance sheet with financial indicators multiplying.
Vietjet safely operated 133,000 flights with 25.3 million passengers onboard – a surge of 183% YoY, of whom more than 7.6 million were flying internationally.
In 2023, Vietjet launched 33 new domestic and international routes. It became the largest airlines operating between Vietnam and five biggest cities of Australia while having opened several routes to the Indian market and in particular the direct flightconnecting Hanoi and Jakarta (Indonesia) which had been off the radar of any airlines for decades. Vietjet also increased its flight frequency to Northeast Asian countries, becoming the airline with the highest frequency from Vietnam to Japan and South Korea.
Vietjet's international flight routes have contributed greatly to promoting diplomatic activities and development of economic ties, trade, investment, and tourism between countries.
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| Vietjet safely operated 133,000 flights with 25.3 million passengers onboard – a surge of 183% YoY, of whom more than 7.6 million were flying internationally. (Photo: Vietjet) |
As of December 31, 2023, Vietjet's eco-friendly fleet of 105 aircraft, including A330s, optimizes resources, saves fuel, and aligns with long-term ESG goals. Over a decade, CO2 reduction efforts have saved up to 15-20% fuel, contributing significantly to sustainable development. ESG remains a strategic priority, driving resource optimization, fuel savings, and CO2 emission reductions through the airline's modern fleet.
Focusing on human resource development, Vietjet Aviation Academy (VJAA) trained over 97,000 students through 6,300 courses. It also installed its third flight simulator, maintaining its position as a top-notch regional pilot training center.
Effectively operating the current flight network while opening new international routes have resulted in impressive business performance for Vietjet in 2023. Seperate and consolidated revenue were reported at 53.7 trillion VND (approx. 2.16 billion USD) and 58.3 trillion VND (approx. 2.35 billion USD) respectively.
As of December 31, 2023, Vietjet's total assets totaled more than 86.9 trillion VND (approx. 3.43 billion USD). The cash and cash equivalents balance was reported at 5.05 trillion (approx. 203 million USD), more than 2.7 times higher YoY, ensuring the airline's financial capacity./.