Vietjet Aviation Joint Stock Company (HOSE: VJC) proudly announced its outstanding business performance for 2023, positioning itself as a resilient and rapidly growing force in the global aviation industry.
Last year, Vietjet operated 133,000 flights with 25.3 million passengers onboard (excluding Vietjet Thailand), reflecting a remarkable surge of 183% year-on-year. Notable expansions included the addition of 33 new international and domestic routes, bringing the total to 125 routes.
Vietjet achieved a significant milestone by becoming the first airline to connect Vietnam with Australia's five largest cities: Sydney, Melbourne, Perth, Adelaide, and Brisbane. Strengthening its position as the largest operator between Vietnam and India, Vietjet expanded routes to cities such as Delhi, Mumbai, Ahmedabad, Kochi, and Tiruchirappalli.
Vietjet reported a robust consolidated revenue of VND 62.5 trillion (approx. RM 12.1 billion) in 2023, showcasing a substantial 56% year-on-year growth. The fourth quarter of 2023 saw separate and consolidated revenues surging by 89% and 49% respectively, underlining the airline's financial strength.
The cargo volume reached 81,500 tons, marking a substantial increase of 73% year-on-year and contributing significantly to Vietjet's overall operational success.
As of December 31, 2023, Vietjet's total assets surpassed VND 84.6 trillion (approx. RM 16.37 billion), maintaining a commendable debt-to-equity ratio of 2. The airline also doubled its cash and cash equivalents balance to VND 5.021 trillion (approx. RM 972.03 million), ensuring strong financial capacity.
In 2023, Vietjet paid approximately VND 5.2 trillion (approx. RM 1.01 billion) of direct and indirect taxes and fees.
Investing in a modern, safe, and eco-friendly fleet, Vietjet closed 2023 with a fleet of 105 aircraft, including the wide-body A330s. The airline maintained a steadfast commitment to environmental sustainability, achieving a 15-20% reduction in carbon emissions and securing an agreement with Boeing for the delivery of 200 737 MAX aircraft over the next five years.
The airline's average load factor rate reached 87% and the technical reliability rate 99.72%. Vietjet introduced the SkyJoy loyalty program, celebrating a milestone of 10 million members in 2023. Initiatives such as "Fly now Pay later" and the Galaxy Pay payment gateway were also launched to ensure secure and convenient payments through various methods, including Apple Pay.
Recognised as one of the safest low-cost airlines by AirlineRatings, Vietjet places a strong emphasis on safety. The airline prioritised this commitment through various avenues, including participation in conferences, training courses, and simulations such as the Quality and Safety Conference, ISAGO (International Standard for Ground Operations) safety training, and emergency response simulations. Vietjet actively engaged in global aviation safety and operations forums organised by reputable organisations like the International Air Transport Association (IATA), fostering in-depth discussions to proactively enhance security and ensure absolute safety in flight operations.
The Vietjet Aviation Academy (VJAA) trained over 97,000 students in 2023, becoming a training partner of the International Air Transport Association (IATA). The academy further solidified its position as a top-notch pilot training centre in the region.
Vietjet's exceptional performance in 2023 contributed significantly to the development of tourism, investment, trade, and cultural exchange, setting records in international network expansion and annual revenue.
