On April 26, 2023, Vietjet Aviation Joint Stock Company (HoSE: VJC) successfully organized its General Meeting of Shareholders (GMS) and announced its upbeat growth plan for this year. The GMS has set targets for Vietjet to maintain its market leader position in terms of passenger volume and efficiency in Vietnam; reach agreements with aircraft manufacturers
On April 26, 2023, Vietjet Aviation Joint Stock Company (HoSE: VJC) successfully organized its General Meeting of Shareholders (GMS) and announced its upbeat growth plan for this year.
The GMS has set targets for Vietjet to maintain its market leader position in terms of passenger volume and efficiency in Vietnam; reach agreements with aircraft manufacturers Airbus and Boeing to ensure on-time delivery; expand business activities in ground services, training services, and digital business; and optimizing operations and financial solutions to cut costs while improving efficiency.
The GMS has also agreed on the goals of making Vietjet a leading airline in digital technology; raising capital to meet the development demand; and prioritizing asset growth and financial capability improvement, laying out the foundation for the fruitful and sustainable development of Vietjet.
Vietjet plans to expand its fleet of 87 aircraft (including 9 Airbus A330 wide-body aircraft), expecting to operate 139,513 flights with 25.7 million passengers onboard. Its targeted consolidated revenue for 2023 is over VND50,178 billion (approx. US$2.14 billion) while after-tax profit is set at VND1,000 billion (US$42.8 million).
In 2022, Vietjet operated more than 116,261 flights (up by 186% YoY) and transported 20.5 million passengers (up by 283% YoY), leading the domestic market in terms of passenger volume. Vietjet has also brought its widebody Airbus A330 fleet into operation to effectively fly long-range routes to Kazakhstan, India, and Australia.
The airline has successfully worked on the tablet check-in project, helping ground operation staff to flexibly process check-in for the passengers, as well as integrating HD Insurance and Galaxy Pay services to the system to offer more options to the passengers.
It has also launched the brand-new loyalty program SkyJoy with endless rewards together with the in-flight POS payment system for ancillary purchase.
The 2022 audited financial statements reported that Vietjet’s consolidated revenue reached more than VND40,142 billion (approx. US$1.71 billion) (up by 212% YoY).
The long-term assets increased by over US$200 million of worth. The airline’s total assets were at VND68,036 billion (approx. US$2.91 billion) with the debt-to-equity rate at nearly 1.3 which was considered to be good in the aviation industry. Its payment of direct and indirect taxes, fees and charges to the State budget totaled VND4,350 billion (approx. US$186.3 million).